# In the matter of Mahadev Prasad Jhawar Vs. Agarwal Polysacks Ltd. & Anr. Company Appeal (AT) (Insolvency) No. 928 of 2021

> NCLAT judgment dated 2022-02-23. Citation: TCN-2022-NCLAT-00613. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT)…

- **Court:** NCLAT
- **Order date:** 23 Feb 2022
- **Citation:** TCN-2022-NCLAT-00613
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mahadev-prasad-jhawar-vs-agarwal-polysacks-ltd-anr-company-appeal-d810a8db

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT) regarding a matter of insolvency. The parties involved had entered into a settlement agreement. An application was filed to bring the settlement agreement on record.

## Facts

Mahadev Prasad Jhawar filed an appeal against Agarwal Polysacks Ltd. & Anr. before the NCLAT. The parties entered into a settlement agreement, which was brought on record. The Appellant agreed to pay a balance amount of Rs. 40,83,767/-, which has already been paid to the Respondents. An interim order had been passed earlier staying the constitution of the Committee of Creditors. The Adjudicating Authority had initiated the 'Corporate Insolvency Resolution Process' on 03rd November, 2021. The Appellant had deposited amounts before the Registrar of NCLT pursuant to an order dated 17th November, 2021.

## Issues and analysis

### Issue 1: Whether the appeal should be disposed of in light of …

**Ratio:** When parties enter into a settlement agreement, courts generally favor disposing of the

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**Reasoning:** The court reasoned that since the parties had entered into a settlement agreement, there

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**Interpretation:** This issue involves the interpretation of the legal effect of a settlement

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**Application:** The court applied this principle by disposing of the appeal in terms of the

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## Parties

- **Judges:** Ashok Bh…; Alok Sriv…
- **Appellants:** Mahadev Prasad…
- **Respondents:** Agarwal Polysacks…

## Timeline

- **2021-11-03 — Order by Adjudicating…**: The Adjudicating Authority passed an order initiating the 'Corporate Insolvency…
- **2021-11-17 — Interim…**: The court passed an interim order staying the…

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