# In the matter of SAA Vishnu Bakers Pvt. Ltd. vs. Sadhan Kumar Nag & Anr. Company Appeal (AT) (Ins.) No. 1133 of 2022

> NCLAT judgment dated 2022-09-20. Citation: TCN-2022-NCLAT-00202. The appeal was filed against an order passed by the Adjudicating Authority (National Company…

- **Court:** NCLAT
- **Order date:** 20 Sept 2022
- **Citation:** TCN-2022-NCLAT-00202
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/saa-vishnu-bakers-pvt-ltd-vs-sadhan-kumar-nag-anr-company-appeal-12cebc5d

## Summary

### Background

The appeal was filed against an order passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) dated 07.09.2021, which admitted an application filed by the Operational Creditor. The Tribunal took up the appeal on 15.09.2022.

## Facts

SAA Vishnu Bakers Pvt. Ltd. filed an appeal against an order passed by the Adjudicating Authority (NCLT, Kolkata Bench) dated 07.09.2021, which admitted an application filed by the Operational Creditor. A settlement agreement was reached between the parties, dated 12.09.2022, and brought on record via I.A. No. 3447 of 2022. The Operational Creditor's counsel confirmed receipt of payment and settlement. The IRP submitted that expenses of Rs. 1,45,00,000/- were incurred and communicated to the Corporate Debtor. The court directed the Corporate Debtor to pay the IRP's expenses and an additional fee of Rs. 1 lakh. The relevance of the settlement is that it resolves the dispute that led to the initial application by the Operational Creditor. The IRP expenses are relevant as

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## Issues and analysis

### Issue 1: Whether the settlement agreement between …

**Ratio:** A settlement agreement reached between parties in a legal dispute can be taken on record

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**Reasoning:** The court considered the submissions of the counsels and the fact that a settlement

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**Interpretation:** The interpretation is that courts generally encourage and facilitate

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**Application:** The court applied this principle by taking the settlement agreement dated

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## Parties

- **Judges:** Ashok Bh…; M. Satyanarayana…; +1 more
- **Appellants:** SAA Vishnu Bakers…
- **Respondents:** Sadhan Kum…

## Timeline

- **2021-09-07 — Order by Adjudicating…**: Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) passed an order…
- **2022-09-12 — Settlement Ag…**: Settlement agreement…

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