# In the matter of Amresh Bahadur Agrawal vs. Nilkanth Dealcom Pvt. Ltd. & Anr. Company Appeal (AT) (Ins.) No. 1218 of 2022

> NCLAT judgment dated 2023-05-24. Citation: TCN-2023-NCLAT-00812. The appeal was filed against the order dated 27.09.2022, by which the Section 7 application…

- **Court:** NCLAT
- **Order date:** 24 May 2023
- **Citation:** TCN-2023-NCLAT-00812
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/amresh-bahadur-agrawal-vs-nilkanth-dealcom-pvt-ltd-anr-company-appeal-09cf7502

## Summary

### Background

The appeal was filed against the order dated 27.09.2022, by which the Section 7 application filed by the Financial Creditor was admitted by the Adjudicating Authority. An interim order was passed by the Tribunal on 11.10.2022.

## Facts

An appeal was filed against the order dated 27.09.2022 admitting a Section 7 application.

An interim order was passed by the Tribunal on 11.10.2022.

The appellant questioned the Adjudicating Authority's consideration of the disbursement and the nature of the debt.

The court issued a notice to the respondents and required the appellant to provide their contact information.

A settlement was reached between the parties on 20.05.2023, with the appellant agreeing to pay Rs. 50,00,000/-.

The IRP's dues have already been quantified as Rs. 11,70,133/- of which Rs. 3 lakhs have already been deposited.

The appeal was disposed of, and the Impugned Order was set aside. CIRP is closed.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority properly …

**Ratio:** The Learned Counsel for the Appellant submits that the Adjudicating Authority has not

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**Reasoning:** The appellant argued that the disbursement was not for the time value of money and that

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**Interpretation:** The court needed to scrutinize whether the debt in question qualified as a

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**Application:** The court considered the submissions and issued notices to the respondents to

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Amresh Bahadur…
- **Respondents:** Nilkanth Dealcom…
- **Other parties:** IRP…
- **Advocates:** Ravi Ragh…; Aakashi…; +3 more

## Timeline

- **2022-09-27 — Order Da…**: Order passed by the Adjudicating…
- **2022-10-11 — Interim…**: Interim order passed by…

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