# In the matter of Mohit Gupta vs. Illuminar Engineering Services Pvt. Ltd. & Ors. Company Appeal (AT) (Insolvency) No. 291 of 2023

> NCLAT judgment dated 2023-03-07. Citation: TCN-2023-NCLAT-00684. The appeal was filed against an order dated 2023-02-28, which admitted an application filed…

- **Court:** NCLAT
- **Order date:** 7 Mar 2023
- **Citation:** TCN-2023-NCLAT-00684
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mohit-gupta-vs-illuminar-engineering-services-pvt-ltd-ors-company-appeal-62bc1d7f

## Summary

### Background

The appeal was filed against an order dated 2023-02-28, which admitted an application filed by the Operational Creditor under Section 9 of the Code. After the impugned order was passed, the parties entered into a settlement agreement dated 2023-03-02.

## Facts

The appeal was filed against the order dated 2023-02-28, admitting an application by the Operational Creditor under Section 9 of the Code. The parties entered into a settlement agreement dated 2023-03-02, where the Appellant agreed to pay Rs. 4,03,08,250 in six installments. Rs. 25 Lakh was paid upon signing the agreement, and a cheque for Rs. 1 Crore dated 2023-03-06 was encashed. The remaining amount was paid via post-dated cheques. The Operational Creditor and IRP did not deny these facts. The relevance of these facts is that they demonstrate the parties' agreement to settle the dispute, leading to the appeal being allowed.

## Issues and analysis

### Issue 1: Whether the appeal should be allowed based on the …

**Ratio:** Appeals can be allowed based on settlement agreements between parties, especially when

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

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**Interpretation:** This interpretation suggests that courts are inclined to uphold settlement

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Rakesh Kuma…; Alok Sriv…
- **Appellants:** Mohit G…
- **Respondents:** Innovation India…; Illuminar…

## Timeline

- **2023-02-28 — Original Ord…**: Order passed admitting the application filed by the Operational Creditor under Section 9…
- **2023-03-02 — Settlement Agreement…**: Parties entered into a…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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