# In the matter of Old lane India Cyprus Fund II Ltd. Vs. Rudradev Infopark Pvt. Ltd. & Ors. CA(AT)(Insolvency) 75-2019

> NCLAT judgment dated 2019-05-14. Citation: TCN-2019-NCLAT-00555. The case involves a Company Appeal (AT) No. 75 of 2019 before the National Company Law…

- **Court:** NCLAT
- **Order date:** 14 May 2019
- **Citation:** TCN-2019-NCLAT-00555
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/old-lane-india-cyprus-fund-ii-ltd-vs-rudradev-infopark-pvt-ltd-ors-ca-aa4c8f6c

## Summary

### Background

The case involves a Company Appeal (AT) No. 75 of 2019 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. Old lane India Cyprus Fund II Ltd is the Appellant, and Rudradev Infopark Pvt Ltd & Ors are the Respondents. During the hearing, a consensus was reached where the Respondents agreed to convene the AGM by June 10th, 2019, including a nominee Director of the Appellant in the Agenda.

## Facts

Old lane India Cyprus Fund II Ltd filed an appeal against Rudradev Infopark Pvt Ltd & Ors. The appeal was heard on May 14, 2019. During the hearing, a consensus emerged that the Respondents would convene the AGM by June 10, 2019, and include a nominee Director of the Appellant in the Agenda. This agreement led the court to dispose of the appeal, as the arrangement addressed the core issue. The court expressed its expectation that the Respondents would not create situations necessitating further directions regarding the AGM. The Respondents were also directed to take steps to withdraw their application seeking relief from the National Company Law Tribunal, which was identical to the relief sought in the appeal. The Appellant retains the right to approach the

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## Issues and analysis

### Issue 1: Whether the consensus reached during the hearing, regarding the convening of the AGM and inclusion …

**Ratio:** When parties reach a consensus on the matter in dispute, the court may dispose of the

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**Reasoning:** The court reasoned that the consensus reached during the hearing, where the Respondents

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**Interpretation:** This principle allows courts to efficiently resolve disputes when parties

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**Application:** In this case, the consensus reached on convening the AGM and including the

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## Parties

- **Judges:** Bansi Lal…; Balvinder…
- **Appellants:** Old lane India…
- **Respondents:** Rudradev Infopark…

## Timeline

- **2019-05-14 — Hearing…**: The court heard the learned…
- **2019-06-10 — AGM Conveni…**: Respondents shall…

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