# In the matter of Raju Verma Vs. Kaushalya Ahluwalia & Anr. CA(AT)(Insolvency) 318-2019

> NCLAT judgment dated 2019-04-24. Citation: TCN-2019-NCLAT-00638. The case involves an appeal against an order passed by the Adjudicating Authority (National…

- **Court:** NCLAT
- **Order date:** 24 Apr 2019
- **Citation:** TCN-2019-NCLAT-00638
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/raju-verma-vs-kaushalya-ahluwalia-anr-ca-aa64f46b

## Summary

### Background

The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal) in New Delhi. The appellant and respondent informed the court that the matter had been settled. The Committee of Creditors had not been constituted.

## Facts

Raju Verma filed an appeal against Kaushalya Ahluwalia & Anr. The parties informed the court that the matter had been settled. The Committee of Creditors had not been constituted. The Adjudicating Authority had passed an order appointing an Interim Resolution Professional, declaring a moratorium, and freezing accounts. The Interim Resolution Professional had taken actions, including publishing an advertisement. The impugned order was dated 19.03.2019. The Corporate Debtor was released from the rigour of law.

## Issues and analysis

### Issue 1: Whether the Respondent should be allowed to withdraw the application under Section 7 of the I&B …

**Ratio:** When a matter has been settled between the parties and the Committee of Creditors has not

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**Reasoning:** The court reasoned that since the matter had been settled and the Committee of Creditors

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**Interpretation:** This interprets Section 7 of the I&B Code to allow for withdrawal of 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:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Raju V…
- **Respondents:** Kaushalya…

## Timeline

- **2019-03-19 — Impugned…**: The Adjudicating Authority (National Company…
- **2019-04-24 — Hearing…**: Learned counsel for the parties informed the court that a draft would be handed over by…

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