# In the matter of Aassaan Global Trade Vs. Tiffins Barytes Asbestos and Paints Ltd & Anr I.A. No.569 of 2021 in CA (AT) (Ins) No. 716 of 2019

> NCLAT judgment dated 2021-04-15. Citation: TCN-2021-NCLAT-00285. The case involves two company appeals, No. 716 of 2019 and No. 276 of 2019, both under the…

- **Court:** NCLAT
- **Order date:** 15 Apr 2021
- **Citation:** TCN-2021-NCLAT-00285
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/aassaan-global-trade-vs-tiffins-barytes-asbestos-and-paints-ltd-anr-ia-no569-of-88841945

## Summary

### Background

The case involves two company appeals, No. 716 of 2019 and No. 276 of 2019, both under the category of Insolvency. The appellant in both cases is Aassaan Global Trade. The appeals were brought before the National Company Law Appellate Tribunal (NCLAT).

## Facts

Aassaan Global Trade filed two company appeals related to insolvency, numbered 716 of 2019 and 276 of 2019. In appeal 716/2019, Tiffins Barytes Asbestos and Paints Ltd & Anr were the respondents. In appeal 276/2019, Vasudeva, RP & Others were the respondents. The appellant's counsel, Mr. Shantanu Singh and Mr. Anirudha J, informed the court that they were instructed to withdraw both appeals. The respondents' counsels, including Mr. K. Moorthy and Mr. Yash Raj Singh Deora, did not object to the withdrawal. The appeals were subsequently dismissed as withdrawn.

## Issues and analysis

### Issue 1: Whether the appellant's request to withdraw the appeals should be granted, given the absence of …

**Ratio:** An appellant has the right to withdraw an appeal, and the court typically grants such a

…

**Reasoning:** The court reasoned that since the appellant wished to withdraw the appeals and the

…

**Interpretation:** The legal principle is that parties are generally allowed to control the course

…

**Application:** In this case, the appellant's request to withdraw was granted because the

…

## Parties

- **Judges:** Bansi Lal…; Ashok Kumar…
- **Appellants:** Aassaan Global…
- **Respondents:** Tiffins Barytes…

## Timeline

- **2021-04-15 — Appeal Withdrawal…**: Learned counsel for the appellant requested to withdraw Company Appeal (AT)(Insolvency)…
- **2021-04-15 — Respondents' No…**: Advocates appearing for the respondents stated they had no objection to the withdrawal of…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/aassaan-global-trade-vs-tiffins-barytes-asbestos-and-paints-ltd-anr-ia-no569-of-88841945