NCLT Not Obligated to Monitor Every Settlement Payment as a sentinel/guardian

Agson Global Private Limited Vs Prodalim B.V (NCLT Delhi) NCLT Delhi’s landmark judgment in Agson Global vs. Prodalim B.V clarifies its role in settlement payments. Breach doesn’t trigger CIRP. Full order text included. NCLT cannot stand as a sentinel/ guardian, and is not bound to observe every Settlement payment agreed between the parties Introduction: The National Company Law Tribunal (NCLT), New Delhi Bench III, in the case of “Prodalim BV Vs. Agson Global Pvt Ltd,” has delivered a significant judgment on December 7, 2023. The ruling clarifies that the NCLT cannot a...