# In the matter of Ramnath Vs. Sew Infrastructure Ltd. & Ors. CA(AT)(Ins) No. 1279 of 2019

> NCLAT judgment dated 2020-01-24. Citation: TCN-2020-NCLAT-00494. The case involves an appeal against an order by the Adjudicating Authority (National Company…

- **Court:** NCLAT
- **Order date:** 24 Jan 2020
- **Citation:** TCN-2020-NCLAT-00494
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ramnath-vs-sew-infrastructure-ltd-ors-ca-1bd9af65

## Summary

### Background

The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by 'M/s. Sew Infrastructure Limited' (Financial Creditor) against 'M/s. Jaldi Traders & Commerce House Private Limited' (Corporate Debtor).

## Facts

On 2020-01-24, M/s. Sew Infrastructure Limited (Financial Creditor) initiated proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s. Jaldi Traders & Commerce House Private Limited (Corporate Debtor). The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, admitted the application via an order dated August 21, 2019. Subsequently, the appellant indicated a negotiation for settlement with the respondent. The parties reached a settlement and filed a joint application under Rule 11 of the National Company Law Appellate Tribunal Rules, 2016. The Interim Resolution Professional had not taken charge, and no public announcement was made. The Financial Creditor had already applied for a change of the Interim Resolution

…

## Issues and analysis

### Issue 1: Whether the appellate tribunal was justified in setting aside the impugned order and allowing the …

**Ratio:** The legal principle applied is the inherent power of the appellate tribunal under Rule 11

…

**Reasoning:** The court reasoned that since the parties had reached a settlement, the Interim

…

**Interpretation:** This interprets Rule 11 of the National Company Law Appellate Tribunal Rules,

…

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

…

## Parties

- **Judges:** S.J. Mukhop…; Shreesha…; +1 more
- **Appellants:** Ramn…
- **Respondents:** M/s. Jaldi…; M/s. Sew Infrastru…

## Timeline

- **2019-08-21 — Impugned…**: The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, admitted the…
- **2019-12-14 — Settlement…**: Parties reached a…

---

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/ramnath-vs-sew-infrastructure-ltd-ors-ca-1bd9af65