# In the matter of Pawan Kumar Manguturam Bairagra vs. Encore Asset Reconstruction Company Ltd. Company Appeal (AT) (Insolvency) No. 701 of 2023

> NCLAT judgment dated 2023-06-02. Citation: TCN-2023-NCLAT-00462. The case is an appeal under Company Appeal (AT) (Insolvency) No. 701 of 2023. The appellant…

- **Court:** NCLAT
- **Order date:** 2 Jun 2023
- **Citation:** TCN-2023-NCLAT-00462
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/pawan-kumar-manguturam-bairagra-vs-encore-asset-reconstruction-company-ltd-compa-66369105

## Summary

### Background

The case is an appeal under Company Appeal (AT) (Insolvency) No. 701 of 2023. The appellant is Pawan Kumar Manguturam Bairagra, and the respondent is Encore Asset Reconstruction Company Ltd. The learned counsel for both the appellant and the respondent are present.

## Facts

The case involves an appeal where Pawan Kumar Manguturam Bairagra is the appellant and Encore Asset Reconstruction Company Ltd. is the respondent. Both parties are represented by their respective counsels. The respondent has stated their willingness to accept the principal amount of Rs. 24.10 Crores to settle the matter, with a condition that they will not proceed against the Personal Guarantor. The court has directed the appellant's counsel to seek instructions from the appellant regarding this settlement offer. The relevance of the facts lies in the potential resolution of the appeal through a settlement agreement.

## Issues and analysis

### Issue 1: Whether the appellant will agree to the respondent's offer to accept Rs. 24.10 Crores and close the …

**Ratio:** The legal principle involves the willingness of parties to settle a dispute and the

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**Reasoning:** The court acknowledges the respondent's offer and seeks the appellant's consent to the

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**Interpretation:** The interpretation involves understanding the terms of the settlement offer and

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**Application:** The ratio and reasoning are applied to the specific facts by directing the

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## Parties

- **Judges:** Ashok Bh…; Naresh Sa…
- **Appellants:** Pawan Kumar…
- **Respondents:** Encore Asset…

## Timeline

- **2023-06-02 — Court He…**: Learned Counsel for the Appellant submits that the Appellant is present. Learned Counsel…
- **2023-06-07 — Next Hearin…**: The matter is listed for…

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