# In the matter of Loganmoy Ltd. vs. Ayodhya Orchards LLP & Ors. Company Appeal (AT) (Ins.) No. 1090 of 2022

> NCLAT judgment dated 2023-04-24. Citation: TCN-2023-NCLAT-00583. The case involves an appeal filed against an order dated 2022-08-01 by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 24 Apr 2023
- **Citation:** TCN-2023-NCLAT-00583
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/loganmoy-ltd-vs-ayodhya-orchards-llp-ors-company-appeal-a6512ed0

## Summary

### Background

The case involves an appeal filed against an order dated 2022-08-01 by the Adjudicating Authority, which admitted an application under Section 7. The appeal was heard by the Tribunal on 2022-09-07, during which notices were issued, and an interim order was passed stating that the resolution plan should not be put to vote without the court's leave.

## Facts

An appeal was filed against the Adjudicating Authority's order from 2022-08-01, which admitted an application under Section 7. The Tribunal heard the appeal on 2022-09-07 and issued an interim order preventing the resolution plan from being voted on without the court's permission. The appellant then sought to withdraw the appeal. The Resolution Professional stated that the plan was received on 2023-01-08, but the interim order prevented a vote. The appellant requested a 74-day exclusion from the CIRP timeline, starting from 2023-01-08. The Tribunal allowed the withdrawal, excluded the 74 days, and dismissed the appeal, hoping for a swift CIRP resolution.

## Issues and analysis

### Issue 1: Whether the appellant should be …

**Ratio:** An appellant has the right to withdraw an appeal, subject to the court's discretion and

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**Reasoning:** The Tribunal considered the appellant's request to withdraw the appeal and the

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**Interpretation:** The right to withdraw an appeal is generally recognized, but the court retains

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**Application:** The Tribunal permitted the appellant to withdraw the appeal, finding no

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Loganmoy…
- **Respondents:** Ayodhya Orchards…

## Timeline

- **2022-08-01 — Order by Adjudicating…**: Adjudicating Authority admitted…
- **2022-09-07 — Tribunal H…**: Tribunal heard the appeal, issued notices, and passed an interim order preventing the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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