# In the matter of R. Balasubramanian Vs. ABB India Ltd. & Anr. CA(AT)(Ins) No. 1431 of 2019

> NCLAT judgment dated 2020-01-17. Citation: TCN-2020-NCLAT-00528. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT), New…

- **Court:** NCLAT
- **Order date:** 17 Jan 2020
- **Citation:** TCN-2020-NCLAT-00528
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/r-balasubramanian-vs-abb-india-ltd-anr-ca-368f1931

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT), New Delhi, concerning an insolvency matter. The appellant and respondents have reached a settlement agreement.

## Facts

The appeal was filed before the National Company Law Appellate Tribunal (NCLAT). The appellant is R. Balasubramanian, and the respondent is ABB India Ltd. & Anr. During the proceedings, the appellant and respondents reached a settlement agreement executed on January 7, 2020, in Chennai. The settlement led to the disposal of the appeal, with the parties being permitted to approach the Adjudicating Authority (NCLT, Chennai Bench) under Section 12A of the Insolvency and Bankruptcy Code, 2016. The Interim Resolution Professional is instructed not to constitute the 'Committee of Creditors' until the matter is addressed by the NCLT.

## Issues and analysis

### Issue 1: Whether the settlement agreement between the appellant and respondents warrants the disposal of the …

**Ratio:** A settlement agreement between parties in an appeal can form the basis for disposing of

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**Reasoning:** The court acknowledges the settlement agreement reached between the appellant and

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**Interpretation:** Section 12A of the Insolvency and Bankruptcy Code, 2016, allows parties to

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**Application:** The court applies the principle of upholding settlement agreements by allowing

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## Parties

- **Judges:** Venugop…; V. P. S…
- **Appellants:** R. Balasubr…
- **Respondents:** ABB India…

## Timeline

- **2020-01-07 — Settlement Agreement…**: The appellant and respondents executed…
- **2020-01-17 — Order Is…**: The NCLAT disposed of the appeal, permitting…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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