# In the matter of Ashis Agarwal, Suspended Partner Jericho Chemicals LLP Vs. Dynamic Engineers Ltd. & Anr. CA (AT) (Ins) No. 283 of 2021

> NCLAT judgment dated 2021-06-18. Citation: TCN-2021-NCLAT-00228. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT). The…

- **Court:** NCLAT
- **Order date:** 18 Jun 2021
- **Citation:** TCN-2021-NCLAT-00228
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ashis-agarwal-suspended-partner-jericho-chemicals-llp-vs-dynamic-engineers-ltd-a-6d7bfaa1

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT). The appellant, Ashis Agarwal, Suspended Partner, Jericho Chemicals LLP, filed an appeal against Dynamic Engineers Ltd. & Anr. The original application was withdrawn by the Operational Creditor due to a settlement under Section 12(A) of the Insolvency and Bankruptcy Code, 2016.

## Facts

Ashis Agarwal, Suspended Partner, Jericho Chemicals LLP, filed an appeal against Dynamic Engineers Ltd. & Anr. The parties have settled their disputes, leading to the Operational Creditor withdrawing the original application under Section 12(A) of the Insolvency and Bankruptcy Code, 2016. The appellant's counsel requested to withdraw the appeal, and the respondent's counsel did not object. This settlement is the key fact that led to the withdrawal of the appeal.

## Issues and analysis

### Issue 1: Whether the appeal can be disposed of as withdrawn given the settlement between the parties and the …

**Ratio:** An appeal can be disposed of as withdrawn when the parties have settled their disputes

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**Reasoning:** The court accepted the appellant's request to withdraw the appeal because the parties had

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**Interpretation:** This reflects the principle that courts generally respect settlements reached

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**Application:** In this case, the appellant's request to withdraw the appeal was granted

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## Parties

- **Judges:** A.I.S. C…; Alok Sriv…
- **Appellants:** Ashis Ag…
- **Respondents:** Dynamic Engineers…

## Timeline

- **2021-06-18 — Order Da…**: The NCLAT disposed of the appeal as withdrawn following the settlement between the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12(a) — Time-limit for completion of insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12)

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