# In the matter of Pawan Kumar Agarwal Vs. Aanchal Ispat Ltd. & Anr. CA(AT)(Ins) No. 174 of 2020

> NCLAT judgment dated 2020-03-16. Citation: TCN-2020-NCLAT-00294. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT)…

- **Court:** NCLAT
- **Order date:** 16 Mar 2020
- **Citation:** TCN-2020-NCLAT-00294
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/pawan-kumar-agarwal-vs-aanchal-ispat-ltd-anr-ca-7f51ecf5

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning a Corporate Insolvency Resolution Process (CIRP). The matter was initially before the National Company Law Tribunal (NCLT), Kolkata. The appeal was filed against an impugned order dated 22.01.2020 passed in C.P.(IB) No. 182/KB/2019.

## Facts

Pawan Kumar Agarwal (Appellant) filed an appeal before the NCLAT against Aanchal Ispat Ltd. & Anr. (Respondents). The matter pertains to a Corporate Insolvency Resolution Process (CIRP). During the proceedings, the parties informed the tribunal that a settlement had been reached. As part of the settlement, the Appellant produced a Demand Draft dated 13.03.2020 for Rs. 2,11,17,808/- in favor of the 1st Respondent, Anchal Ispat Ltd. The Demand Draft was handed over to the Respondent's counsel. The Committee of Creditors had not been constituted. The impugned order dated 22.01.2020 passed in C.P.(IB) No. 182/KB/2019 and the Application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, were set aside and withdrawn, respectively. The Corporate Debtor

…

## Issues and analysis

### Issue 1: Whether the settlement between the Appellant and the Respondent warrants the disposal of the appeal …

**Ratio:** When parties reach a settlement and fulfill the terms of the settlement, the court or

…

**Reasoning:** The Tribunal recorded the settlement between the parties, evidenced by the Appellant's

…

**Interpretation:** This reflects the principle that courts and tribunals generally encourage and

…

**Application:** In this case, the Appellant's provision of the Demand Draft demonstrated a

…

## Parties

- **Judges:** Venugop…; KanthiNar…
- **Appellants:** Pawan Kumar…
- **Respondents:** Aanchal Isp…

## Timeline

- **2020-01-22 — Impugned…**: Date of the impugned order passed…
- **2020-03-13 — Demand Draf…**: Appellant produced a Demand Draft dated 13.03.2020 for Rs. 2,11,17,808/- in favour of the…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/pawan-kumar-agarwal-vs-aanchal-ispat-ltd-anr-ca-7f51ecf5