# 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-00557. 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-00557
- **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-b34b370f

## Summary

### Background

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

## Facts

Old lane India Cyprus Fund II Ltd filed a Company Appeal (AT) No. 75 of 2019 against Rudradev Infopark Pvt Ltd & Ors. During the hearing on May 14, 2019, a consensus was reached where the respondents agreed to convene the AGM by June 10, 2019, and include a nominee director of the appellant in the agenda. This consensus led the court to dispose of the appeal. The respondents were also directed to withdraw their application seeking similar relief from the National Company Law Tribunal. The appellant was granted liberty to approach the Appellate Tribunal if any issues remain unresolved. The key fact is the consensus reached regarding the AGM, which formed the basis for disposing of the appeal.

## Issues and analysis

### Issue 1: Whether the consensus reached between the parties regarding the convening of the AGM and inclusion …

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

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**Reasoning:** The court reasoned that since the respondents agreed to convene the AGM by June 10, 2019,

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**Interpretation:** This indicates that courts can rely on the agreements and understandings

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**Application:** In this case, the consensus on the AGM and director inclusion was directly

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## Parties

- **Judges:** Bansi Lal…; Balvinder…
- **Appellants:** Old lane India…
- **Respondents:** Rudradev Infopark…
- **Advocates:** Abhijeet…; Samir M…; +5 more

## Timeline

- **2019-05-14 — Hearing…**: Hearing of the appeal…
- **2019-06-10 — AGM Conveni…**: Respondents to convene…

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