# In the matter of Himalaya Food International Ltd.
Vs.
Montage Global Pvt. Ltd. Company Appeal (AT) (Ins.) No. 671 of 2022

> NCLAT judgment dated 2022-06-08. Citation: TCN-2022-NCLAT-00430. The case involves an appeal against the admission of a Section 9 application under the…

- **Court:** NCLAT
- **Order date:** 8 Jun 2022
- **Citation:** TCN-2022-NCLAT-00430
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/himalaya-food-international-ltd-vs-montage-global-pvt-ltd-company-appeal-6cfa69f6

## Summary

### Background

The case involves an appeal against the admission of a Section 9 application under the Insolvency and Bankruptcy Code (IBC). Prior to the admission of the application, the parties had reached a settlement. This settlement was brought to the attention of the Adjudicating Authority. Despite the settlement, the application was admitted. The appellant filed a Company Appeal (AT) (Ins.) No. 671 of 2022 seeking withdrawal of the CIRP proceedings.

## Facts

Himalaya Food International Ltd. filed a Company Appeal (AT) (Ins.) No. 671 of 2022 against Montage Global Pvt. Ltd. The appeal arose from the admission of a Section 9 application in CP (IB) No. 491/ND/2020 on 01.06.2022. Prior to the admission of the application, on 04.05.2022, a settlement had been reached between the parties. This settlement was communicated to the Adjudicating Authority on 30.05.2022. Despite the settlement, the application was admitted on 01.06.2022. The appellant sought to withdraw the Company Appeal, citing the settlement. The court considered the settlement and the appellant's request for withdrawal.

## Issues and analysis

### Issue 1: Whether the Company Appeal (AT) (Ins.) No. 671 of 2022 should be permitted to be withdrawn given …

**Ratio:** When parties have settled their disputes, courts generally favor allowing the withdrawal

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**Reasoning:** The court reasoned that since the matter had been settled between the parties, it was

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**Interpretation:** This reflects the principle that courts should encourage and facilitate

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**Application:** The court applied this principle by permitting the appellant to withdraw the

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## Parties

- **Judges:** M. Venu…; Ashok Kumar…
- **Appellants:** Himalaya Food…
- **Respondents:** Montage Global…

## Timeline

- **2022-05-04 — Settlement…**: A settlement was…
- **2022-05-30 — Settlement N…**: The settlement was brought to the…

## 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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