# In the matter of Piya Haldar, Suspended Director of Honeywell International (India) Pvt. Ltd. vs. Abhimanyu Mittal & Ors Company Appeal (AT) (Insolvency) No.1373 of 2022

> NCLAT judgment dated 2023-02-15. Citation: TCN-2023-NCLAT-00720. The appeal was filed against the order dated 2022-11-10, which admitted the application filed…

- **Court:** NCLAT
- **Order date:** 15 Feb 2023
- **Citation:** TCN-2023-NCLAT-00720
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/piya-haldar-suspended-director-of-honeywell-international-india-pvt-ltd-vs-abhim-444d7942

## Summary

### Background

The appeal was filed against the order dated 2022-11-10, which admitted the application filed by the Operational Creditor under Section 9 of the IBC. The Tribunal took up the appeal on 2022-11-15 and stayed the order dated 2022-11-10.

## Facts

Piya Haldar, the Suspended Director of Honeywell International (India) Pvt. Ltd., filed an appeal against Abhimanyu Mittal & Ors. The appeal contested the order dated 2022-11-10, which admitted an application filed by the Operational Creditor under Section 9 of the IBC. The parties subsequently reached a settlement, as evidenced by an additional affidavit filed by the Appellant and a submission by the Operational Creditor's counsel. The Interim Resolution Professional (IRP) was present and confirmed that the fee of Rupees Two Lakhs, as directed by the Adjudicating Authority, had been paid. The IRP also stated that he had attended proceedings and incurred expenditure. The Corporate Debtor was directed to pay Rupees One Lakh to the IRP towards the expenditure

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## Issues and analysis

### Issue 1: Whether the order dated 2022-11-10 admitting the application under Section 9 should be set aside …

**Ratio:** When parties to a dispute reach a settlement, the court or tribunal can set aside

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**Reasoning:** The court took the additional affidavit on record, which stated that the parties had

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**Interpretation:** This reflects the court's willingness to encourage settlement between parties

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**Application:** Since the parties had settled, the court set aside the order dated 2022-11-10,

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Piya Ha…
- **Respondents:** Abhimanyu Mittal…

## Timeline

- **2022-11-10 — Original…**: Order passed admitting the application filed by…
- **2022-11-15 — Appeal Ta…**: The Tribunal took up the appeal and…

## 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)

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