# In the matter of Vistra ITCL (India) Limited And Anr.  Vs Kakade Estate  Developers Pvt. Ltd. & Ors.

> HC judgment dated 2024-12-19. Citation: TCN-2024-HC-00005. The case involves an Interim Application seeking the withdrawal of execution proceedings. The…

- **Court:** HC
- **Order date:** 19 Dec 2024
- **Citation:** TCN-2024-HC-00005
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/vistra-itcl-india-limited-and-anr-vs-kakade-estate-developers-pvt-ltd-ors-96ae9d13

## Summary

### Background

The case involves an Interim Application seeking the withdrawal of execution proceedings. The applicants sought this withdrawal with the liberty to file a fresh Execution Application if the settlement agreement, which aimed to settle the applicants' claims, is breached. The settlement agreement involves third parties in addition to the Judgment Debtor. The respondents have no objection to the withdrawal of the execution proceedings.

## Facts

Vistra ITCL (India) Limited and Anr. filed a Commercial Execution Application (L) No. 27991 of 2021 against Kakade Estate Developers Pvt. Ltd. & Ors. An Interim Application (L) No. 30726 of 2024 was filed seeking withdrawal of the execution proceedings, as the parties were attempting to settle the claims through a settlement agreement. The settlement agreement involved third parties in addition to the Judgment Debtor. The Applicants sought the liberty to file a fresh Execution Application if the settlement agreement is breached. The Respondents did not object to the withdrawal. The Interim Application was filed because the settlement agreement did not provide a mechanism for certain issues.

## Issues and analysis

### Issue 1: Whether the Interim Application seeking withdrawal of the execution proceedings should be allowed, …

**Ratio:** The principle applied is that courts generally allow parties to withdraw proceedings,

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**Reasoning:** The Court reasoned that since the Respondents had no objection to the withdrawal and a

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**Interpretation:** The interpretation involves understanding the court's discretion to manage its

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Abhay A…
- **Appellants:** Vistra ITCL…
- **Respondents:** Kakade Estate…
- **Other parties:** Kohi…

## Timeline

- **2024-12-19 — Order Da…**: The Court allowed the Interim Application, permitting the withdrawal of the execution…
- **2024-01-01 — Interim Application…**: Interim Application (L) No. 30726 of 2024 was filed seeking withdrawal of the execution…

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