# In the matter of Rahuul Ramesh Shah Vs.
PNB Housing Finance Ltd. Company Appeal (AT) (Insolvency) No. 50 of 2022

> NCLAT judgment dated 2022-07-12. Citation: TCN-2022-NCLAT-00373. The case pertains to Company Appeal (AT) (Insolvency) No. 50 of 2022 before the National…

- **Court:** NCLAT
- **Order date:** 12 Jul 2022
- **Citation:** TCN-2022-NCLAT-00373
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rahuul-ramesh-shah-vs-pnb-housing-finance-ltd-company-appeal-43b9964c

## Summary

### Background

The case pertains to Company Appeal (AT) (Insolvency) No. 50 of 2022 before the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi. The appellant, Mr. Rahuul Ramesh Shah, sought to withdraw the appeal. The learned counsel for the appellant stated that steps were being taken to enter into a settlement.

## Facts

Mr. Rahuul Ramesh Shah filed an appeal before the NCLAT. During the proceedings, the appellant's counsel informed the court that the appellant was in the process of entering into a settlement. Consequently, the appellant requested permission to withdraw the appeal. The court granted the request, and the appeal was dismissed as withdrawn. The key fact is the appellant's decision to pursue settlement and withdraw the appeal, leading to the court's order of dismissal.

## Issues and analysis

### Issue 1: Whether the appellant's request to withdraw the appeal should be granted given the ongoing …

**Ratio:** An appellant has the right to withdraw an appeal, especially when settlement negotiations

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**Reasoning:** The court reasoned that since the appellant was actively pursuing settlement and wished

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**Interpretation:** The interpretation is that an appellant's voluntary decision to withdraw an

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Ashok Bh…; M. Satyanarayana…; +1 more
- **Appellants:** Rahuul Rame…
- **Respondents:** PNB Housing…

## Timeline

- **2022-07-12 — Appeal Withdrawal…**: The appellant's counsel requested to withdraw the appeal due to ongoing settlement…
- **2022-07-12 — Appeal Dis…**: The court dismissed the appeal as…

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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/rahuul-ramesh-shah-vs-pnb-housing-finance-ltd-company-appeal-43b9964c