# In the matter of Katha-O-Kahini (Book Sellers) Pvt. Ltd. vs. Shushila Jain

> NCLAT judgment dated 2024-04-09. Citation: TCN-2024-NCLAT-00524. This is a Company Appeal (AT) (Insolvency) No. 95 of 2024 filed against an order by the…

- **Court:** NCLAT
- **Order date:** 9 Apr 2024
- **Citation:** TCN-2024-NCLAT-00524
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/katha-o-kahini-book-sellers-pvt-ltd-vs-shushila-jain-7d5b279b

## Summary

### Background

This is a Company Appeal (AT) (Insolvency) No. 95 of 2024 filed against an order by the Adjudicating Authority dated 2023-12-21, which admitted an application under Section 9. An I.A. No. 2442 of 2024 was filed to bring on record settled consent terms dated 2024-04-04. The appellant's counsel stated that a Demand Draft for Rs.96,36,291/- was prepared and ready to be deposited or handed over to the respondent. The High Court had granted interim protection.

## Facts

Katha-O-Kahini (Book Sellers) Pvt. Ltd. filed an appeal against Shushila Jain. The Adjudicating Authority had admitted an application under Section 9 on 2023-12-21. The appellant's counsel stated that a Demand Draft for Rs.96,36,291/- was prepared and ready to be deposited or handed over to the respondent. Consent terms were agreed upon, and an I.A. No. 2442 of 2024 was filed to bring these terms on record. The appellant was to bear any additional costs as per Clause 12 of the consent terms. The court set aside the impugned order and directed the release of the amount deposited under the order dated 2024-01-29 to the respondent. The key fact is the settlement between the parties, leading to the disposal of the appeal and the setting aside of the CIRP.

## Issues and analysis

### Issue 1: Whether the order passed by the Adjudicating Authority dated 2023-12-21 admitting the application …

**Ratio:** When parties reach a settlement and consent terms are filed, the court can consider these

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**Reasoning:** The court reasoned that, given the consent terms and the submission that the remaining

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**Interpretation:** This legal issue involves the interpretation of the court's power to set aside

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**Application:** In this case, the consent terms were presented to the court, indicating that

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Katha-O-Kahini…
- **Respondents:** Shushila…
- **Advocates:** Abhijeet…; Anuj Ti…; +4 more

## Timeline

- **2023-12-21 — Order by Adjudicating…**: The Adjudicating Authority passed an order…
- **2024-01-24 — Interim…**: The court passed an interim order, with the respondent's counsel seeking time to obtain…

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