# In the matter of Ajay Kumar Agarwala Vs. J.A. Finance Ltd. & Anr. CA(AT)(Ins)No. 1178-2019

> NCLAT judgment dated 2019-11-11. Citation: TCN-2019-NCLAT-00170. The case pertains to Company Appeal (AT) (Insolvency) No. 1178 of 2019. After filing the…

- **Court:** NCLAT
- **Order date:** 11 Nov 2019
- **Citation:** TCN-2019-NCLAT-00170
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ajay-kumar-agarwala-vs-ja-finance-ltd-anr-ca-2130b74e

## Summary

### Background

The case pertains to Company Appeal (AT) (Insolvency) No. 1178 of 2019. After filing the appeal, the parties involved settled the matter and filed a petition before the Adjudicating Authority for withdrawal of the application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016.

## Facts

The case involves a Company Appeal (AT) (Insolvency) No. 1178 of 2019. The appellant is Ajay Kumar Agarwala, and the respondents are J.A. Finance Ltd. & Anr. After the appeal was filed, the parties settled the matter and filed a petition before the Adjudicating Authority to withdraw the application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The appellant's counsel was instructed to withdraw the appeal with the liberty to challenge any decision before the Appellate Tribunal. Consequently, the appeal was disposed of as withdrawn with the aforesaid liberty.

## Issues and analysis

### Issue 1: Whether the appeal can be disposed of as withdrawn based on the settlement between the parties and …

**Ratio:** The legal principle applied here is that parties can settle a matter and withdraw an

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**Reasoning:** The court reasoned that since the parties had settled the matter and the appellant's

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**Interpretation:** This legal issue involves the interpretation of the right of parties to settle

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**Application:** In this specific case, the ratio and reasoning were applied to allow the

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## Parties

- **Judges:** S.J. Mukhop…; Venugop…; +1 more
- **Appellants:** Ajay Kumar…
- **Respondents:** J.A. Financ…
- **Advocates:** Kaus…

## Timeline

- **2019-11-11 — Order Da…**: The order states that after filing the Appeal, parties have settled the matter and filed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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