# In the matter of Pawan Kumar Manguturam Bairagra vs. Encore Asset Reconstruction Company Ltd.

> NCLAT judgment dated 2023-07-28. Citation: TCN-2023-NCLAT-00333. The case involves a Company Appeal (AT) (Insolvency) No.701 of 2023 before the National…

- **Court:** NCLAT
- **Order date:** 28 Jul 2023
- **Citation:** TCN-2023-NCLAT-00333
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/pawan-kumar-manguturam-bairagra-vs-encore-asset-reconstruction-company-ltd-69479566

## Summary

### Background

The case involves a Company Appeal (AT) (Insolvency) No.701 of 2023 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi. The appellant is Pawan Kumar Manguturam Bairagra, and the respondent is Encore Asset Reconstruction Company Ltd. The matter pertains to an insolvency issue.

## Facts

The appellant, Pawan Kumar Manguturam Bairagra, and the respondent, Encore Asset Reconstruction Company Ltd., were involved in a Company Appeal (AT) (Insolvency) No.701 of 2023. The learned counsel for both parties submitted to the court that they have reached a settlement. The settlement terms include an upfront payment of 10% of the agreed amount, with the remaining 10% to be paid within 30 days of signing the settlement agreement. The court directed that the Settlement Agreement be filed by 31.07.2023 and listed the appeal for further hearing on 01.08.2023. An interim order was continued.

## Issues and analysis

### Issue 1: Whether the settlement agreement between the appellant and respondent should be accepted by the …

**Ratio:** The principle of upholding settlements reached between parties is generally favored by

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**Reasoning:** The court acknowledges the submission of the learned counsel for both parties that they

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**Interpretation:** The court interprets the submission as a positive step towards resolving the

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**Application:** Given the submission of the settlement, the court directs the filing of the

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Pawan Kumar…
- **Respondents:** Encore Asset…

## Timeline

- **2023-07-28 — Court Subm…**: Learned counsel for the Appellant and the Respondent submits that the parties have…
- **2023-07-31 — Settlement Agreement…**: Learned counsel submit that the Settlement…

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