# In the matter of Govind Krishnan Muthukumar Vs Ask Property Investment Advisors Pvt. Ltd.

> NCLAT judgment dated 2023-09-27. Citation: TCN-2023-NCLAT-00164. The appeal was filed against the order dated 25.08.2023 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 27 Sept 2023
- **Citation:** TCN-2023-NCLAT-00164
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/govind-krishnan-muthukumar-vs-ask-property-investment-advisors-pvt-ltd-982b83cb

## Summary

### Background

The appeal was filed against the order dated 25.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench-IV, which admitted Section 7 Application filed by the Respondent. The appellant's counsel submitted that an amount of Rs.5 Lakhs, directed by the Adjudicating Authority, was already paid to the IRP. The tribunal noted that an Interim Order was passed on 14.09.2023, less than a month after the impugned order.

## Facts

Govind Krishnan Muthukumar filed an appeal against ASK Property Investment Advisors Pvt. Ltd. & Ors. The appeal contested the order dated 25.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench-IV, which admitted Section 7 Application filed by the Respondent. During the proceedings, the Learned Counsel for the Financial Creditor submitted that Consent Terms had already been entered. The appellant's counsel further submitted that an amount of Rs.5 Lakhs, which was directed by the Adjudicating Authority to be paid, was already paid to the IRP. The tribunal noted that an Interim Order was passed on 14.09.2023. The relevance of these facts lies in the tribunal's decision to dispose of the appeal based on the consent terms and the

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## Issues and analysis

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

**Ratio:** The legal principle applied is that courts generally uphold and enforce consent terms

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**Reasoning:** The court reasoned that since the parties had entered into consent terms, and these terms

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**Interpretation:** This reflects the interpretation that consent terms are binding agreements that

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**Application:** In this case, the existence of consent terms between the parties justified the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Govind Krishnan…
- **Respondents:** ASK Property…

## Timeline

- **2023-08-25 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal) Mumbai Bench-IV passed an…
- **2023-09-14 — Interim Order by…**: An Interim Order was…

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