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Tribunals and CommissionsDivision Bench(2023) 03 NCLT CK 3896

M/S vs Engineering Vs Larsen And Toroubro Limited

National Company Law Tribunal · Decided on 3 March 2023

HON’BLE JUDGES
Shyam Babu Gautam, Member (Technical) · Kuldip Kumar Kareer, Member (Judicial)
CASE NUMBER
IA 779/2023 In C.P. (IB)/900(MB)2022

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Judgment

5 paragraphs · 173 words

ORDER

The matter is taken up through Virtual Hearing (VC).

IA No. 779/2022 :- The present application is filed by the Operational Creditor under Rule 11 of NCLT Rules, 2016 for withdrawal of the Company Petition. Counsel appearing for the Operational Creditor submits that the Operational Creditor and the Corporate Debtor have entered into settlement agreement on 10.10.2022 and as per the terms of settlement agreement with the Corporate Debtor, the Operational Creditor has received Rs. 97,00,000/-as full and final settlement of their dues, from the side of the Corporate Debtor.

Having considered the submissions of the Counsel, appearing for the applicant/Operational Creditor and on perusal of averments made in the present application.

This bench is of the considered view that since parties have settled the matter as full and final. In view of the above, IA No. 779/2023 is allowed and disposed of. Accordingly, C.P. (IB)/900(MB)2022 is allowed to be withdrawn, hence stands closed. All the pending IA’s/MA’s in this Company Petition become infructuous, hence stood dismissed. File be consigned to records.