JSB Cements NCLT Application Dismissed Amid Settlement

JSB Cements sought dismissal of an insolvency petition filed by Satnam Global Infraprojects under Section 7 of IBC, citing a settlement MoU.
The MoU dated 07.05.2025 required JSB to pay ₹22.4 crore in installments, with Satnam obligated to withdraw all cases after the first payment.
JSB made partial payments totaling ₹3.2 crore but halted further installments, claiming Satnam failed to withdraw the NCLT petition as agreed.
The NCLT Guwahati Bench dismissed JSB's application, noting the settlement was incomplete and the main insolvency petition must proceed.