# In the matter of Anurag Kartiar (Ex-Director of Degustibus Hospitality Pt. Ltd. vs. Hotel Horizon Pvt. Ltd. & Anr. Company Appeal (AT) (Ins) No. 897 of 2021

> NCLAT judgment dated 2022-01-13. Citation: TCN-2022-NCLAT-00667. The Company Appeal (AT) (Ins) No. 897 of 2021 was filed against the order dated 27.09.2021,…

- **Court:** NCLAT
- **Order date:** 13 Jan 2022
- **Citation:** TCN-2022-NCLAT-00667
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/anurag-kartiar-ex-director-of-degustibus-hospitality-pt-ltd-vs-hotel-horizon-pvt-998d2732

## Summary

### Background

The Company Appeal (AT) (Ins) No. 897 of 2021 was filed against the order dated 27.09.2021, which initiated proceedings under Section 9 and appointed an Interim Resolution Professional (IRP). During the appeal, the parties stated they were taking steps for settlement. IA No. 72/2022 was filed, bringing on record the settlement dated 04.01.2022, supported by the application and affidavits of both parties, indicating they had settled the dispute. The application stated that the Committee of Creditors (CoC) had not yet been constituted.

## Facts

Mr. Anurag Kartiar, the Ex-Director of Degustibus Hospitality Pt. Ltd., filed a Company Appeal (AT) (Ins) No. 897 of 2021 against Hotel Horizon Pvt. Ltd. & Anr. The appeal challenged an order dated 27.09.2021 that initiated proceedings under Section 9 and appointed an Interim Resolution Professional (IRP). During the appeal process, both parties indicated they were pursuing a settlement. IA No. 72/2022 was filed, presenting a settlement agreement dated 04.01.2022, supported by affidavits from both parties, confirming the resolution of their dispute. The application also noted that a Committee of Creditors (CoC) had not yet been formed. The IRP's counsel confirmed that the IRP costs would be covered as part of the settlement. This settlement led the appellate

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## Issues and analysis

### Issue 1: Whether the settlement between the parties warrants setting aside the order passed by the …

**Ratio:** A settlement between parties in a legal dispute can be a valid basis for setting aside

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**Reasoning:** The court reasoned that since the parties had reached a settlement and filed it with the

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**Interpretation:** This interpretation emphasizes the court's willingness to recognize and enforce

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**Application:** In this case, the settlement agreement, supported by affidavits from both

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## Parties

- **Judges:** Ashok Bh…; Ashok Kumar…
- **Appellants:** Anurag Ka…
- **Respondents:** Degustibus…; Degustibus…; +1 more

## Timeline

- **2021-09-27 — Original…**: Order was passed initiating proceedings u/s 9 and appointing an Interim Resolution…
- **2022-01-04 — Settlemen…**: Settlement agreement…

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