# In the matter of WOG Technologies Pvt. Ltd. IA-6000-ND-2021 & IA-653,1773 & 2394-2022 in IB-839-ND-2019

> NCLT judgment dated 2022-05-25. Citation: TCN-2022-NCLT-04765. The matter pertains to an application filed by the IRP under Section 12 of the Code, stating…

- **Court:** NCLT
- **Order date:** 25 May 2022
- **Citation:** TCN-2022-NCLT-04765
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/wog-technologies-pvt-ltd-ia-6000-nd-2021-ia-6531773-2394-2022-in-ib-839-nd-2019-ccb7c242

## Summary

### Background

The matter pertains to an application filed by the IRP under Section 12 of the Code, stating that the matter has been settled with the Operational Creditor.

## Facts

An application was filed on behalf of the IRP under Section 12 of the Code.

The application stated that the matter has been settled with the Operational Creditor.

Counsel for the petitioner endorsed that dues have been paid.

The court allowed the application and disposed of IB/839/ND/2019.

CIR proceedings were closed.

Suspended Board of Directors were directed to take charge of the respondent/Corporate Debtor.

IRP/RP stand discharged.

IA/653/ND/2022 was disposed of with liberty to avail the remedy and get the IB/570/ND/2019 to restored the as the same was ordered to be infructuous, because of reason, that the IB/839/ND/2019 was admitted and the CIR proceeding were ordered to be initiated.

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## Issues and analysis

### Issue 1: Whether the application filed by the IRP under Section 12 of the Code can be allowed based on the …

**Ratio:** The court can allow the application if the matter has been settled with the Operational

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**Reasoning:** The court considered the settlement between the parties and the endorsement by the

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**Interpretation:** Section 12 of the Code allows for the consideration of settlement between

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**Application:** The court applied this principle by allowing the application and disposing of

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## Parties

- **Judges:** DHARMINDER…; SUMITA PURK…; +1 more
- **Appellants:** Danfoss Industries…
- **Respondents:** Wog Technologies…
- **Other parties:** Brijesh Singh…
- **Advocates:** Himanshu H…; Ketan Madan…; +6 more

## Timeline

- **N/A — Application…**: Application filed by the IRP…
- **2022-05-25 — Order Del…**: Order delivered on 25.05.2022, allowing the…

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