# In the matter of Ari Mohan Dangayach vs. I Field Ltd.

> NCLAT judgment dated 2023-11-10. Citation: TCN-2023-NCLAT-00077. This is a Company Appeal (AT) (Insolvency) No. 1388 of 2023 filed against the order dated…

- **Court:** NCLAT
- **Order date:** 10 Nov 2023
- **Citation:** TCN-2023-NCLAT-00077
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ari-mohan-dangayach-vs-i-field-ltd-f8a3b7b0

## Summary

### Background

This is a Company Appeal (AT) (Insolvency) No. 1388 of 2023 filed against the order dated 12.10.2023 passed by the Adjudicating Authority by which order Section 9 Application has been admitted. The Appellant, the Suspended Director of the Corporate Debtor, challenged the order dated 12.10.2023 passed by the Adjudicating Authority by which the application under Section 9 filed by the Operational Creditor has been admitted.

## Facts

Ari Mohan Dangayach filed an appeal against an order dated 12.10.2023 passed by the Adjudicating Authority, which admitted a Section 9 application. The appellant is the Suspended Director of the Corporate Debtor. The Corporate Debtor and the Operational Creditor have reached a settlement regarding the amount to be paid. The Operational Creditor has agreed to accept the amount to end the controversy. The appellant's counsel stated that the amount would be transmitted to the Operational Creditor within two weeks. The appellant has filed an application with proof of payment to the Operational Creditor, and the Operational Creditor has confirmed receiving the entire payment. The Adjudicating Authority had directed a payment of Rs. 2 Lakh to be deposited, which has not been

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## Issues and analysis

### Issue 1: Whether the appeal should be disposed of in light of the settlement reached between the Corporate …

**Ratio:** When parties reach a settlement and the operational creditor agrees to accept the amount

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**Reasoning:** The court considered the submissions of both the appellant's and the operational

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**Interpretation:** This reflects the principle that courts encourage settlements between parties

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**Application:** Since a settlement was reached and payment was made, the court disposed of the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Ari Mohan…
- **Respondents:** I Field…
- **Advocates:** Ashish…; Tabrez Ma…; +1 more

## Timeline

- **2023-10-12 — Order by Adjudicating…**: The Adjudicating Authority passed an…
- **2023-10-18 — Interim…**: This Appeal has been filed by the Appellant, the Suspended Director of the Corporate…

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