# In the matter of Abhishek Singh Vs. Huhtamaki PPL Ltd. and Ors. CA (AT) (Ins) No. 235 of 2021

> NCLAT judgment dated 2021-03-26. Citation: TCN-2021-NCLAT-00302. The case involves an appeal against the admission of an application under Section 9 of the…

- **Court:** NCLAT
- **Order date:** 26 Mar 2021
- **Citation:** TCN-2021-NCLAT-00302
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/abhishek-singh-vs-huhtamaki-ppl-ltd-and-ors-ca-ddc217c4

## Summary

### Background

The case involves an appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Manpasand Beverages Ltd., the Corporate Debtor. The Appellant is the Director of the Suspended Board of the Corporate Debtor. The Appellant settled the claim of the Operational Creditor, and an application for withdrawal was filed under Section 12A of the IBC.

## Facts

Abhishek Singh, the Director of the Suspended Board of Manpasand Beverages Ltd., filed an appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Manpasand Beverages Ltd. The application was initially filed by Huhtamaki PPL Ltd., an Operational Creditor, before the NCLT Ahmedabad Bench. During the pendency of the appeal, the Appellant settled the claim with the Operational Creditor, and an application for withdrawal was filed under Section 12A of the IBC. The IRP, Salil Thakore, agreed to the settlement but stated that the money has been paid violating moratorium. The Committee of Creditors (CoC) had not been constituted. The Appellant sought permission to withdraw the appeal with the liberty to restore

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## Issues and analysis

### Issue 1: Whether the Appellant should be allowed to withdraw the appeal given the settlement with the …

**Ratio:** The court has the discretion to allow the withdrawal of an appeal if a settlement has

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**Reasoning:** The court considered the objects of the IBC, which include facilitating the resolution of

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**Interpretation:** Section 12A of the IBC allows for the withdrawal of an application if a

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**Application:** In this case, the Appellant and the Operational Creditor have reached a

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## Parties

- **Judges:** A.I.S. C…; Alok Sriv…
- **Appellants:** Abhishek…
- **Respondents:** Manpasand…; Huhtamaki P…
- **Advocates:** Vikram Na…; Mahesh Ag…; +6 more

## Timeline

- **2019-01-01 — Application…**: Operational Creditor filed C.P. (IB) No. 503/9/NCLT/AHM/2019 before Adjudicating…
- **2021-03-26 — Order Da…**: The court permitted the withdrawal of the appeal with liberty to seek restoration if the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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