# In the matter of Dinesh Goyal Vs. Prints Publications Pvt. Ltd. & Anr. I.A No. 3625 of 2019 in CA(AT)(Insolvency)No.1214 of 2019

> NCLAT judgment dated 2019-11-15. Citation: TCN-2019-NCLAT-00133. The case involves an appeal against the order of the Adjudicating Authority (National Company…

- **Court:** NCLAT
- **Order date:** 15 Nov 2019
- **Citation:** TCN-2019-NCLAT-00133
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/dinesh-goyal-vs-prints-publications-pvt-ltd-anr-ia-no-3625-of-2019-in-ca-1096c13e

## Summary

### Background

The case involves an appeal against the order of the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench-V, which admitted an application filed by 'Printers Publication Pvt. Ltd.' (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against 'Goyal Books Overseas Pvt. Ltd.' (Corporate Debtor). The appeal was preferred by ‘Mr. Dinesh Goyal', Director of the 'Corporate Debtor'.

## Facts

Printers Publication Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against Goyal Books Overseas Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority admitted the application, leading to an appeal by Mr. Dinesh Goyal, Director of the Corporate Debtor. Before the 'Committee of Creditors' was constituted, the Appellant expressed the intention to settle the matter. The Appellant handed over Banker's Cheque No. 037850 dated 11th November, 2019, for Rs. 12,20,574/- to Mr. Kunal Kishor, counsel for the 1st Respondent (Prints Publication Pvt. Ltd.), and another Banker's Cheque No. 037866 dated 13th November, 2019, for Rupees Two Lakhs to Mr. Amit

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## Issues and analysis

### Issue 1: Whether the impugned order passed by the Adjudicating Authority should be set aside given that the …

**Ratio:** Rule 11 of the ‘National Company Law Appellate Tribunal Rules, 2016 grants the appellate

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**Reasoning:** The court reasoned that since the parties had settled the matter and the debt amount was

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**Interpretation:** The interpretation is that the NCLAT has the authority to set aside orders

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** S.J. Mukhop…; Venugop…
- **Appellants:** Dinesh…
- **Respondents:** Goyal Books…; Prints Publication…

## Timeline

- **2019-11-04 — Impugned…**: Adjudicating Authority (National Company Law Tribunal), New Delhi Bench-V admitted the…
- **2019-11-11 — Banker's Chequ…**: Banker's Cheque No. 037850 issued by ‘Axis Bank Ltd.' for Rs. 12,20,574/- to Mr. Kunal…

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