# In the matter of Triveni Turbine Limited CP (IB) No. 493-ALD-2019

> NCLT judgment dated 2022-04-05. Citation: TCN-2022-NCLT-03359. The case pertains to CP (IB) No. 493/ALD/2019 filed before the National Company Law Tribunal,…

- **Court:** NCLT
- **Order date:** 5 Apr 2022
- **Citation:** TCN-2022-NCLT-03359
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/triveni-turbine-limited-cp-ib-no-493-ald-2019-e297a371

## Summary

### Background

The case pertains to CP (IB) No. 493/ALD/2019 filed before the National Company Law Tribunal, Allahabad Bench. The hearing was held on April 5th, 2022. The matter involves M/S NSSL PVT LTD V/S M/S TRIVENI TURBINE LIMITED.

## Facts

The case involves CP (IB) No. 493/ALD/2019 before the National Company Law Tribunal, Allahabad Bench, with M/S NSSL PVT LTD as the operational creditor and M/S TRIVENI TURBINE LIMITED as the corporate debtor. During the hearing on April 5th, 2022, both parties informed the court that they had reached a settlement outside of court. Proxy counsel for the operational creditor and counsel for the corporate debtor were present during the video conference hearing. This settlement led to the dismissal of the case.

## Issues and analysis

### Issue 1: Whether CP (IB) No. 493/ALD/2019 should be dismissed as withdrawn due to a settlement reached …

**Ratio:** When parties to a legal proceeding reach a settlement outside of court, the court may

…

**Reasoning:** The court accepted the submissions of both parties that they had reached a settlement.

…

**Interpretation:** This reflects the principle that courts generally respect and facilitate

…

**Application:** Since both M/S NSSL PVT LTD and M/S TRIVENI TURBINE LIMITED reported a

…

## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** M/S NSSL P…
- **Respondents:** M/S TRIVENI…

## Timeline

- **2019-01-01 — Case Fil…**: CP (IB) No. 493/ALD/2019…
- **2022-04-05 — Hearing…**: Hearing held on April…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/triveni-turbine-limited-cp-ib-no-493-ald-2019-e297a371