# In the matter of RCC Infra Ventures Ltd. vs. Ashtech Industries Pvt. Ltd.

> NCLAT judgment dated 2024-05-13. Citation: TCN-2024-NCLAT-00440. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT). The…

- **Court:** NCLAT
- **Order date:** 13 May 2024
- **Citation:** TCN-2024-NCLAT-00440
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rcc-infra-ventures-ltd-vs-ashtech-industries-pvt-ltd-60362f87

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT). The appellant is RCC Infra Ventures Ltd., and the respondent is Ashtech Industries Pvt. Ltd. The matter pertains to Comp. App. (AT) (Ins) No. 941 of 2024. The learned counsel for the appellant submitted that a settlement has been finalized between the parties, and an amount of Rs.35.00 Lacs has been handed over.

## Facts

RCC Infra Ventures Ltd. filed an appeal against Ashtech Industries Pvt. Ltd. before the NCLAT. During the proceedings, the appellant's counsel informed the court that a settlement had been reached between the parties, with Rs.35.00 Lacs being handed over. The appellant requested a week's time to formally record the settlement. The court, in the interim, directed that the Committee of Creditors not be constituted and granted liberty to the parties to bring the settlement on record. The case was listed for further hearing on 2024-05-24. The key fact is the settlement between the parties, which led to the court's interim order and adjournment.

## Issues and analysis

### Issue 1: Whether the settlement between the parties should be recorded and the appeal disposed of …

**Ratio:** The principle of upholding settlements reached between parties to promote amicable

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**Reasoning:** The court acknowledged the submission of the appellant's counsel regarding the settlement

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**Interpretation:** The court interpreted the settlement as a positive step towards resolving the

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**Application:** The court applied the principle of encouraging settlements by adjourning the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** RCC Infra…
- **Respondents:** Ashtech Industries…

## Timeline

- **2024-05-13 — Settlement Su…**: Learned Counsel for the appellant submitted that a settlement has been finalized between…
- **2024-05-13 — Interim…**: Court directed that the Committee…

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