NATIONAL COMPANY LAW TRIBUNAL

CHANDIGARH BENCH,CHANDIGARH
CA No. 110/2018 and C.P. (I.B) NO. 69/Chd/Hry/2018
DATED: 23.07.2018
IN MATTER OF:
Walsons Services Pvt Ltd (Operational Creditor)
v.
Kudos Chemie Limited (Corporate Debtor)

Walsons Services Pvt Ltd v. Kudos Chemie Limited 69/2018

(Filed under Section 9 of I&B Code, 2016)

BENCH: Hon’ble Mr. Justice R.P.Nagrath (Member Judicial); Hon’ble Mr.

Pradeep R.Sethi (Member Technical)

Withdrawal of application on settlement reached between the parties.

The Application was filed by the Operational Creditor for commencement of CIRP
against the Corporate Debtor. Subsequently, the Creditor had requested for
withdrawal of the application as the matter was settled between the parties. Hence,
The NCLT had dismissed the application as withdrawn.

Mandatory Tags Keywords Words & Phrases

Hearing
Operational Creditor
Withdraw
settled
Dismissed

FACTS:
The Application was filed by Walsons Services Pvt Ltd (Operational Creditor)
against Kudos Chemie Ltd (Corporate Debtor) for the initiation of insolvency
proceedings under section 9 of the I&B Code, 2016. Subsequently, the Operational
Creditor had requested for the withdrawal of the application as the settlement was
made between the parties.

ORDER:

The NCLT had dismissed the application as withdrawn as the matter was settled
between the parties.

Cases Cited: No Cases

Cases Referred: No Cases

Cases Followed: No Cases

Industry: Security Guard Services

Link to the order:

https://nclt.gov.in/sites/default/files/final-orders-
pdf/CP%20%28IB%29%2069%202018%20%20Walson%20Services%20%20%2
0Vs.%20%20Kudos.pdf