# In the matter of Bajaj Electricals Limited I.A. 1080-2022 In C.P. (IB)-213(MB)2020

> NCLT judgment dated 2022-04-29. Citation: TCN-2022-NCLT-04864. The case pertains to an application under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 29 Apr 2022
- **Citation:** TCN-2022-NCLT-04864
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/bajaj-electricals-limited-ia-1080-2022-in-cp-ib-213mb2020-028bfdc3

## Summary

### Background

The case pertains to an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The matter was listed for hearing on 29.04.2022.

## Facts

The matter was listed for hearing on 29.04.2022.

The applicant is Amit Thapar.

The respondent is Bajaj Electricals Limited.

The matter has been amicably settled as per clause 3 of the Synopsis of I.A. 1080/2020.

The amount due to the Operational Creditor has been settled in full on 04.04.2022.

The settlement agreement has been reduced to writing but is not on board.

The Corporate Debtor has made the due payment to the Operational Creditor.

C.P. (IB)/213(MB)2020 is dismissed as withdrawn.

I.A. 1080 of 2022 is allowed and disposed of.

All pending applications in this case stand disposed of.

## Issues and analysis

### Issue 1: Whether the settlement between the parties …

**Ratio:** Since the parties have amicably settled the matter and the Corporate Debtor has made the

…

**Reasoning:** The confirmation from both sides regarding the settlement agreement and the payment made

…

**Interpretation:** The court interprets the settlement and payment as a resolution of the dispute

…

**Application:** Based on the settlement and payment, C.P. (IB)/213(MB)2020 is dismissed as

…

## Parties

- **Judges:** RAJESH S…; KISHORE VEMULAPALL…
- **Appellants:** Amit Th…
- **Respondents:** Bajaj Electricals…
- **Advocates:** Shyam Ka…; Deepak Kumar…

## Timeline

- **2022-04-04 — Settlemen…**: Amount due to Operational…
- **2022-04-29 — Hearing…**: Order sheet of the hearing held on this date. C.P. (IB)/213(MB)2020 is dismissed as…

## 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-mumbai/bajaj-electricals-limited-ia-1080-2022-in-cp-ib-213mb2020-028bfdc3