# In the matter of Athena Infraproject Pvt. Ltd. Vs. Indian Bank & Anr. CA (AT) No. 260-2017

> NCLAT judgment dated 2018-07-04. Citation: TCN-2018-NCLAT-00229. The case involves an appeal related to an insolvency matter. The 'Resolution Plan' has been…

- **Court:** NCLAT
- **Order date:** 4 Jul 2018
- **Citation:** TCN-2018-NCLAT-00229
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/athena-infraproject-pvt-ltd-vs-indian-bank-anr-ca-602c109a

## Summary

### Background

The case involves an appeal related to an insolvency matter. The 'Resolution Plan' has been approved by the 'Committee of Creditors' and is pending before the Adjudicating Authority for approval under Section 31 of the Insolvency and Bankruptcy Code, 2016. The appellant sought to withdraw the appeal as the matter reached the final stage for approval of the 'Resolution Plan'.

## Facts

Athena Infraproject Pvt. Ltd. filed an appeal against Indian Bank & anr. The 'Resolution Plan' has been approved by the 'Committee of Creditors' and is pending before the Adjudicating Authority for approval under Section 31 of the Insolvency and Bankruptcy Code, 2016. The appellant, Athena Infraproject Pvt. Ltd., instructed its counsel not to press the appeal, as the matter had reached the final stage for approval of the 'Resolution Plan'. The appellant sought liberty to move before the appropriate forum if the 'Resolution Plan' is not approved in accordance with the law. The court allowed the withdrawal of the appeal, granting liberty to the aggrieved parties to move before the appropriate forum if the resolution plan is not approved.

## Issues and analysis

### Issue 1: Whether the appellant should be allowed to withdraw the appeal given that the resolution plan is …

**Ratio:** The court has the discretion to allow the withdrawal of an appeal based on the

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**Reasoning:** The court considered that the 'Resolution Plan' had reached the final stage for approval

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**Interpretation:** This interprets the court's power to manage its proceedings and allow parties

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**Application:** The court applied this principle by allowing Athena Infraproject Pvt. Ltd. to

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Athena Infraprojec…
- **Respondents:** Corporate…; Indian Bank…

## Timeline

- **2018-07-04 — Order Da…**: Learned counsel for the respondent Indian Bank submits that within the resolution period,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 31 — Approval of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-31)

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