# In the matter of Sai Ramakrishna Karutari Vs. Axis Bank Ltd. & Anr. CA(AT)(Ins)No.825-2019

> NCLAT judgment dated 2019-10-22. Citation: TCN-2019-NCLAT-00204. The case involves a Company Appeal (AT) (Insolvency) No. 825 of 2019 before the National…

- **Court:** NCLAT
- **Order date:** 22 Oct 2019
- **Citation:** TCN-2019-NCLAT-00204
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sai-ramakrishna-karutari-vs-axis-bank-ltd-anr-ca-a5a8a453

## Summary

### Background

The case involves a Company Appeal (AT) (Insolvency) No. 825 of 2019 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appellant is Sai Ramakrishna Karuturi, and the respondent is Axis Bank Ltd. & Anr. The appellant sought to withdraw the appeal to settle the claim with the respondent.

## Facts

Sai Ramakrishna Karuturi filed an appeal before the National Company Law Appellate Tribunal (NCLAT) against Axis Bank Ltd. & Anr. During the proceedings, the appellant, represented by Mr. Rajiv Ranjan, Senior Advocate, sought permission to withdraw the appeal to enable settlement negotiations with the respondent, Axis Bank Ltd. The court granted the request, dismissing the appeal as withdrawn. The dismissal was without any liberty to challenge the same impugned order, but it did not prevent the appellant from settling the matter with the respondent.

## Issues and analysis

### Issue 1: Whether the appellant should be allowed to withdraw the appeal to facilitate settlement with the …

**Ratio:** An appellant can withdraw an appeal if it serves the interests of justice and promotes

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**Reasoning:** The court reasoned that allowing the withdrawal would enable the appellant to settle the

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**Interpretation:** The interpretation is that courts generally allow withdrawal of appeals when it

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**Application:** In this case, the court applied the principle by allowing the appellant to

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +2 more
- **Appellants:** Sai Ramakrishna…
- **Respondents:** Axis Ban…

## Timeline

- **2019-10-22 — Withdrawal of…**: The appellant sought to withdraw the appeal to enable settlement with the respondent,…

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