# In the matter of Anand Prakash Soni & Ors. vs. Hector Realty Ventures Pvt. Ltd. & Ors.

> NCLAT judgment dated 2023-08-31. Citation: TCN-2023-NCLAT-00231. The case involves an appeal against an order dated 07.09.2022 by the Adjudicating Authority,…

- **Court:** NCLAT
- **Order date:** 31 Aug 2023
- **Citation:** TCN-2023-NCLAT-00231
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/anand-prakash-soni-ors-vs-hector-realty-ventures-pvt-ltd-ors-7aee656b

## Summary

### Background

The case involves an appeal against an order dated 07.09.2022 by the Adjudicating Authority, which allowed a 12A application of the Resolution Professional, permitting the withdrawal of the Corporate Insolvency Resolution Process (CIRP). The appeal was originally filed by the Financial Creditors (Homebuyers) and was entertained by the Tribunal on 24.04.2023. Subsequently, the Appellants filed I.A. No. 3040 of 2023, seeking withdrawal of the appeal. Additionally, I.A. No. 1143 of 2022 was filed by Bharti Goyal, another Financial Creditor, seeking impleadment.

## Facts

An appeal was filed against an order dated 07.09.2022, where the Adjudicating Authority allowed a 12A application for withdrawal of CIRP. The appeal was filed by Financial Creditors (Homebuyers). The Appellants then filed I.A. No. 3040 of 2023, seeking to withdraw the appeal. Bharti Goyal, another Financial Creditor, filed I.A. No. 1143 of 2022, seeking impleadment. The Appellants' request to withdraw the appeal was granted, and the appeal was dismissed as withdrawn. The applicant in I.A. No. 1143 of 2022 is free to take such remedy as available in law.

## Issues and analysis

### Issue 1: Whether the Appellant should be …

**Ratio:** An appellant is generally permitted to withdraw an appeal if they choose to do so,

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**Reasoning:** The Appellant himself filed I.A. No. 3040 of 2023 praying for withdrawal of the Appeal.

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**Interpretation:** The legal principle is that an appellant has the right to withdraw an appeal,

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**Application:** The Appellant's application to withdraw the appeal was granted, and the appeal

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Anand Prakash…
- **Respondents:** Hector Realty…
- **Advocates:** Anurag…; Lokesh P…; +4 more

## Timeline

- **2022-09-07 — Order by Adjudicating…**: The Adjudicating Authority allowed a 12A application of the Resolution Professional,…
- **2023-04-24 — Appeal Ente…**: The Tribunal entertained the appeal filed by…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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