# In the matter of Bhavesh Gandhi, Promoter & Suspended Director of Skil Infrastructure Ltd. vs. Amluckie Investment Co. Ltd. & Ors. Company Appeal (AT) (Insolvency) No. 280 of 2021

> NCLAT judgment dated 2021-04-05. Citation: TCN-2021-NCLAT-00294. The appeal was preferred against an order dated March 15, 2021, passed by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 5 Apr 2021
- **Citation:** TCN-2021-NCLAT-00294
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/bhavesh-gandhi-promoter-suspended-director-of-skil-infrastructure-ltd-vs-amlucki-caca6872

## Summary

### Background

The appeal was preferred against an order dated March 15, 2021, passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench-IV, which admitted the application of the Respondent Financial Creditor under Section 7 of the I&B Code. The Corporate Debtor and the Financial Creditor reached a settlement, and the Corporate Debtor filed an application for withdrawal of the Section 7 application. However, there was a delay in listing the matter due to the Adjudicating Authority being inaccessible due to holidays. The impugned order was uploaded after the Financial Creditor had filed the application for withdrawal.

## Facts

Bhavesh Gandhi, representing Skil Infrastructure Ltd. as the Appellant, appealed against an order admitting an application by Amluckie Investment Co. Ltd. & Ors., the Respondent, under Section 7 of the I&B Code. The Corporate Debtor, Skil Infrastructure Ltd., reached a settlement with the Financial Creditor, Amluckie Investment Co. Ltd. The terms of the settlement required the Corporate Debtor to pay Rs.4.40 Crores to the Financial Creditor in installments, with Rs.50 Lakhs already paid and post-dated cheques issued for the balance. The appeal was filed because the order admitting the application was uploaded after the Financial Creditor had already applied for withdrawal based on the settlement. The court noted that the public announcement had not been made

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## Issues and analysis

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

**Ratio:** The court has the discretion to dispose of an appeal if a settlement is reached between

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**Reasoning:** The court reasoned that since a settlement had been reached and no other creditor had

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**Interpretation:** This interprets the court's power to facilitate settlements and efficiently

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**Application:** The court applied this principle by disposing of the appeal, considering the

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## Parties

- **Judges:** Bansi Lal…; Ashok Kumar…
- **Appellants:** Bhavesh G…
- **Respondents:** Skil Infrastructur…; Amluckie Investmen…
- **Advocates:** Abhijeet…; Bani Di…; +3 more

## Timeline

- **2021-03-15 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal) Mumbai Bench-IV admitted the…
- **2021-03-23 — Settlement…**: The Corporate Debtor and the…

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