# In the matter of Lal Chand Morani vs. Satyendra Prasad Khornia & Anr.

> NCLAT judgment dated 2025-02-24. Citation: TCN-2025-NCLAT-00197. The case pertains to Company Appeal (AT) (Insolvency) No. 301 of 2025 before the National…

- **Court:** NCLAT
- **Order date:** 24 Feb 2025
- **Citation:** TCN-2025-NCLAT-00197
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/lal-chand-morani-vs-satyendra-prasad-khornia-anr-15a670a7

## Summary

### Background

The case pertains to Company Appeal (AT) (Insolvency) No. 301 of 2025 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi. The appellant, Lal Chand Morani, is seeking to liquidate an amount as shown in Part IV and approach the respondent, Satyendra Prasad Khornia & Anr., to settle the matter. The appellant's counsel submits that they possess a cheque of Rs. 1 Crore to be paid to the Bank or deposited in the Court.

## Facts

The case involves an appeal related to insolvency. Lal Chand Morani is the appellant, and Satyendra Prasad Khornia & Anr. are the respondents. The appellant's counsel stated that the appellant is ready to liquidate the amount as shown in Part IV and approach the respondent to settle the matter. The appellant's counsel also submits that he is carrying a cheque of Rs. 1 Crore to be paid to the Bank or deposited in the Court. The court allowed the Resolution Professional to collate the claims but clarified that it shall not constitute the CoC. The appeal is listed for 03.03.2025. The key fact is the appellant's willingness to settle with a cheque of Rs. 1 Crore, and the court's direction to the Resolution Professional.

## Issues and analysis

### Issue 1: Whether the appellant is entitled to liquidate the …

**Ratio:** The principle of promoting settlement

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**Reasoning:** The court acknowledges the appellant's willingness to settle and liquidate the amount,

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**Interpretation:** This reflects the court's inclination towards facilitating settlements in

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**Application:** The appellant's readiness to liquidate and settle is a positive step towards

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Lal Chand…
- **Respondents:** Satyendra Prasad…
- **Advocates:** Gaurav…; Vivek…; +5 more

## Timeline

- **2025-02-24 — Appellant's Su…**: Appellant's counsel submits that the Appellant is ready to liquidate the amount and…
- **2025-03-03 — Appeal Li…**: The court lists the…

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