# In the matter of Kinjal Enterprises Vs. Kamla Real Estate Hub Pvt. Ltd. CA(AT)(Insolvency) No. 280-2019

> NCLAT judgment dated 24 Jul 2019. Citation: TCN-2019-NCLAT-00423. The appeal was filed by Kinjal Enterprises challenging an order dated January 10, 2019,…

- **Court:** NCLAT
- **Order date:** 24 Jul 2019
- **Citation:** TCN-2019-NCLAT-00423
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/kinjal-enterprises-vs-kamla-real-estate-hub-pvt-ltd-ca-cd25c4da

## Summary

### Background

The appeal was filed by Kinjal Enterprises challenging an order dated January 10, 2019, passed by the National Company Law Tribunal (NCLT). This initial order directed M/s. Kamla Real Estate Hub Pvt. Ltd. to redeposit an amount of Rs. 2,43,20,000 into the account of the Corporate Debtor by February 15, 2019, due to transactions carried out after the pronouncement of the Interim Resolution Professional (IRP). The order also delisted Respondent No. 8 from the array of respondents and allowed the Resolution Professional (RP) to convene a Committee of Creditors (CoC) meeting to decide on liquidation. A corrigendum to this order was issued on March 1, 2019, which clarified that Kinjal Enterprises was directed to redeposit the amount.

…

## Facts

The Appellant, Kinjal Enterprises, challenged an order dated January 10, 2019, issued by the National Company Law Tribunal (NCLT). This initial order, specifically Misc. Application No. 565 of 2018, directed M/s. Kamla Real Estate Hub Pvt. Ltd. to redeposit Rs. 2,43,20,000 into the Corporate Debtor's account by February 15, 2019, for transactions occurring after the Interim Resolution Professional (IRP) pronouncement. The order also delisted Respondent No. 8 due to evidence of communication with the Resolution Professional and no affirmative reply.

…

## Issues and analysis

### Issue 1: Whether the impugned order dated January 10, 2019, and its corrigendum dated March 1, 2019, should…

**Ratio:** The ratio decidendi is that when parties to an appeal reach a comprehensive settlement,…

**Reasoning:** The court reasoned that since the Appellant and the Liquidator had entered into 'Consent…

**Interpretation:** The court interpreted the 'Consent Terms of Settlement' as a valid and binding…

**Application:** The court applied this interpretation by directing Kinjal Enterprises to comply…

## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Advocates:** For Appel…; Sanjana Sad…; +6 more

## Timeline

- **January 10, 2019 — NCLT Ord…**: NCLT passed an order in Misc. Application No. 565 of 2018, directing M/s. Kamla Real…
- **March 1, 2019 — Corrigendum…**: A corrigendum to the January 10, 2019 order was issued, clarifying that Kinjal…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/kinjal-enterprises-vs-kamla-real-estate-hub-pvt-ltd-ca-cd25c4da