# In the matter of Container Corporation of India Ltd. vs. Roadwings International Pvt. Ltd. & Anr.

> NCLAT judgment dated 2024-07-09. Citation: TCN-2024-NCLAT-00334. The case involves an appeal filed by Container Corporation of India Ltd. (CONCOR) against…

- **Court:** NCLAT
- **Order date:** 9 Jul 2024
- **Citation:** TCN-2024-NCLAT-00334
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/container-corporation-of-india-ltd-vs-roadwings-international-pvt-ltd-anr-75172b9d

## Summary

### Background

The case involves an appeal filed by Container Corporation of India Ltd. (CONCOR) against Roadwings International Pvt. Ltd. & Anr. The appeal pertains to an Interlocutory Application (I.A. No. 4590 of 2024) seeking to allow the appeal based on a settlement reached between the parties. The settlement was allegedly made in view of the Government of India's 'Vivad se Vishwas-II' scheme. The respondent had initiated insolvency proceedings under Section 9 of the Insolvency & Bankruptcy Code, 2016, which were admitted by the Tribunal. This order was challenged by the appellant.

## Facts

Container Corporation of India Ltd. (CONCOR) filed an appeal against Roadwings International Pvt. Ltd. & Anr. The appeal concerns an Interlocutory Application (I.A. No. 4590 of 2024) to allow the appeal based on a settlement under the 'Vivad se Vishwas-II' scheme. Roadwings International Pvt. Ltd. initiated insolvency proceedings under Section 9 of the Insolvency & Bankruptcy Code, 2016, which were admitted by the Tribunal on 12.07.2023. CONCOR challenged this order. CONCOR made a counter offer of Rs. 38,04,84,291.85/-, which Roadwings International Pvt. Ltd. accepted. Roadwings International Pvt. Ltd. also filed an affidavit admitting the settlement. The operational creditor filed its claims under the scheme on 31.08.2023 amounting to Rs. 67,24,23,278/- under

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## Issues and analysis

### Issue 1: Whether the appeal should be allowed based on …

**Ratio:** A settlement between parties can form the basis for allowing an appeal, especially when

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**Reasoning:** The court considered the fact that the parties had reached a settlement, with the

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**Interpretation:** This interpretation emphasizes the importance of upholding settlements reached

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**Application:** The court applied this principle by allowing the appeal, as the settlement

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## Parties

- **Judges:** Rakesh Kuma…; Naresh Sa…; +1 more
- **Appellants:** Container…
- **Respondents:** Roadwings…

## Timeline

- **2023-07-12 — Tribunal Admits…**: The Tribunal admitted the application filed under Section 9 of the Insolvency &…
- **2023-07-14 — Order Passed Staying Adjudicating Authority's…**: An order was passed stating that the order passed by the Adjudicating Authority dated…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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