# In the matter of Edelweiss Asset Reconstruction Company Ltd. Vs. Shri Shyam Sundar Rathi & Anr. Company Appeal (AT) (Insolvency) No. 932 of 2020

> NCLAT judgment dated 2021-08-18. Citation: TCN-2021-NCLAT-00122. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT). The…

- **Court:** NCLAT
- **Order date:** 18 Aug 2021
- **Citation:** TCN-2021-NCLAT-00122
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/edelweiss-asset-reconstruction-company-ltd-vs-shri-shyam-sundar-rathi-anr-compan-584d487a

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT). The appellant sought to withdraw the appeal, and the learned counsel for the appellant submitted that they had instructions to withdraw the instant appeal. The order references a Supreme Court order dated 29.07.2021 in Civil Appeal No. 2846 of 2020 (Hussan Kadri Vs. M/s. Edelweiss Asset Reconstruction Co. Ltd. & Anr.).

## Facts

Edelweiss Asset Reconstruction Company Ltd. filed an appeal before the NCLAT. The appellant's counsel, Mr. R.P. Agrawal, appeared and referenced a Supreme Court order dated 29.07.2021 in Civil Appeal No. 2846 of 2020. The appellant sought permission to withdraw the appeal. An interim order of status quo had been granted on 9th September 2020. The relevance of the Supreme Court order is that it likely influenced the appellant's decision to withdraw the appeal. The appellant's request to withdraw the appeal was based on instructions from the appellant.

## Issues and analysis

### Issue 1: Whether the appellant's request to …

**Ratio:** An appellant has the right to withdraw an appeal, subject to the court's discretion and

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**Reasoning:** The court considered the submissions of the appellant's counsel and the fact that they

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**Interpretation:** The right to withdraw an appeal is generally recognized, but the court retains

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**Application:** In this case, the court applied the principle by granting the appellant's

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## Parties

- **Judges:** Anant Bijay…; Shreesha…
- **Appellants:** Edelweiss Asset…
- **Respondents:** Shyam Sunda…

## Timeline

- **2020-09-09 — Interim…**: Interim order of status…
- **2021-07-29 — Supreme Cour…**: Order passed by the Supreme Court in Civil Appeal No. 2846 of 2020 (Hussan Kadri Vs. M/s.…

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