# 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 2023-05-26. Citation: TCN-2023-NCLAT-00489. The case is an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning…

- **Court:** NCLAT
- **Order date:** 26 May 2023
- **Citation:** TCN-2023-NCLAT-00489
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/pawan-kumar-manguturam-bairagra-vs-encore-asset-reconstruction-company-ltd-compa-9f963a58

## Summary

### Background

The case is an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning an insolvency matter. The appellant approached the financial creditor with a settlement proposal after the impugned order was passed. The appellant is ready and willing to enhance the settlement offer, which is to be made within 48 hours.

## Facts

Pawan Kumar Manguturam Bairagra is the appellant in a Company Appeal (AT)(Insolvency) No. 701 of 2023. Encore Asset Reconstruction Company Ltd. is the respondent. After the impugned order was passed, the appellant approached the financial creditor with a settlement proposal. The appellant is ready and willing to enhance the offer, which is to be made within 48 hours. The court has directed that the appeal be listed on May 31, 2023, and that the CoC should not be constituted until that date if it has not already been constituted.

## Issues and analysis

### Issue 1: Whether the appellant's settlement proposal with …

**Ratio:** The principle of promoting settlement in insolvency proceedings is a recognized legal

…

**Reasoning:** The court acknowledges the appellant's submission that they approached the financial

…

**Interpretation:** The court interprets the appellant's actions as a positive step towards

…

**Application:** The court's decision to list the appeal on May 31, 2023, provides an

…

## Parties

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

## Timeline

- **2023-05-26 — Appellant's Su…**: Learned Counsel for the Appellant submits that after the impugned order was passed, the…
- **2023-05-31 — Next Hearin…**: The appeal is listed to be taken on 31st May, 2023. In the event CoC has not been…

---

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-manguturam-bairagra-vs-encore-asset-reconstruction-company-ltd-compa-9f963a58