# 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-00203. The appeal was filed against the order passed by the Adjudicating Authority (National Company…

- **Court:** NCLAT
- **Order date:** 20 Sept 2022
- **Citation:** TCN-2022-NCLAT-00203
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/saa-vishnu-bakers-pvt-ltd-vs-sadhan-kumar-nag-anr-company-appeal-330d8459

## Summary

### Background

The appeal was filed against the order passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) dated 07.09.2021, which admitted the 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 by the National Company Law Tribunal (NCLT), Kolkata Bench, dated 07.09.2021, which admitted an application filed by the Operational Creditor. During the proceedings, the Appellant's counsel submitted that a settlement had been reached with the Operational Creditor and requested time to formally record the settlement. The Interim Resolution Professional (IRP) indicated that expenses had been incurred for publication. The IRP was directed to provide details of these expenses, along with relevant receipts, to the Corporate Debtor. An application (I.A. No. 3447 of 2022) was filed to bring the settlement agreement, dated 12.09.2022, on record. The Operational Creditor's counsel confirmed receipt of payment and

…

## Issues and analysis

### Issue 1: Whether the settlement agreement between the appellant and the operational creditor should be taken …

**Ratio:** The principle of upholding settlements and promoting amicable resolutions in insolvency

…

**Reasoning:** The court considered the submissions of both parties, including the appellant's counsel's

…

**Interpretation:** The interpretation involves recognizing the importance of settlements in

…

**Application:** The court applied this principle by taking the settlement agreement on record,

…

## Parties

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

## Timeline

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

---

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/saa-vishnu-bakers-pvt-ltd-vs-sadhan-kumar-nag-anr-company-appeal-330d8459