# 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-00123. 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-00123
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/edelweiss-asset-reconstruction-company-ltd-vs-shri-shyam-sundar-rathi-anr-compan-a544274f

## 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 he has instructions from the appellant to withdraw the instant appeal. The order also 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. The appellant's counsel sought permission to withdraw the appeal. The counsel stated that he had instructions from the appellant to withdraw the appeal. The case 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.). An interim order of status quo granted on 9th September, 2020, was also in effect.

## Issues and analysis

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

**Ratio:** An appellant has the right to withdraw an appeal, and the court generally grants such a

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**Reasoning:** The court accepted the submission of the learned counsel for the appellant, who stated

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**Interpretation:** The legal principle is that a party is generally allowed to withdraw a case

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**Application:** In this case, the appellant, Edelweiss Asset Reconstruction Company Ltd.,

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## Parties

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

## Timeline

- **2020-09-09 — Interim…**: Interim order of status…
- **2020-01-01 — Civil Appeal No. 2846…**: Supreme Court in Civil Appeal No. 2846 of 2020 (Hussan Kadri Vs. M/s. Edelweiss Asset…

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