# In the matter of Kuldeep Impex Pvt. Ltd. TA No. 132-2018 in IB-365(ND)-2018

> NCLT judgment dated 2022-05-20. Citation: TCN-2022-NCLT-04793. The matter pertains to an application under Section 9 of the IBC, 2016, filed by TCI Express…

- **Court:** NCLT
- **Order date:** 20 May 2022
- **Citation:** TCN-2022-NCLT-04793
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-jaipur/kuldeep-impex-pvt-ltd-ta-no-132-2018-in-ib-365nd-2018-5c9e1cae

## Summary

### Background

The matter pertains to an application under Section 9 of the IBC, 2016, filed by TCI Express Ltd. against Kuldeep Impex Pvt. Ltd.

## Facts

TCI Express Ltd. filed an application against Kuldeep Impex Pvt. Ltd. under Section 9 of the IBC, 2016.

Both the Operational Creditor and the Corporate Debtor submitted that the matter has been settled.

The Operational Creditor confirmed that the settled amount has been received.

The Operational Creditor requested the withdrawal of the application.

The court granted the prayer for withdrawal and dismissed the application.

## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor can be withdrawn based on the settlement …

**Ratio:** An application can be withdrawn if the parties have settled the matter and the

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**Reasoning:** The court considered the submission of both counsels regarding the settlement and the

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**Interpretation:** The court interpreted the settlement between the parties as a valid ground for

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**Application:** The principle was applied to the present case, where the settlement and receipt

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## Parties

- **Judges:** Deep Chandr…; RaghuNa…
- **Appellants:** TCI Expres…
- **Respondents:** Kuldeep Impex…
- **Advocates:** Jatin C…; Amol…

## Timeline

- **2022-05-20 — Order Da…**: Order passed dismissing the…

## 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)

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