# In the matter of Sanjay Raj vs. G K Ispat Private Limited

> NCLAT judgment dated 2024-04-12. Citation: TCN-2024-NCLAT-00512. The case involves a Company Appeal (AT) (CH) (Ins) No.100/2024 before the National Company…

- **Court:** NCLAT
- **Order date:** 12 Apr 2024
- **Citation:** TCN-2024-NCLAT-00512
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sanjay-raj-vs-g-k-ispat-private-limited-69005e76

## Summary

### Background

The case involves a Company Appeal (AT) (CH) (Ins) No.100/2024 before the National Company Law Appellate Tribunal (NCLAT) at Chennai. During the pendency of the appeal, the parties arrived at a 'Mutual Settlement Agreement'. The appeal arises from an Impugned Order dated 16.02.2024 passed by the 'Adjudicating Authority' / 'Tribunal' in CP(IB) No.18/BB/2023 on the file of the 'Adjudicating Authority' / 'National Company Law Tribunal', Bengaluru Bench.

## Facts

Sanjay Raj is the Appellant. G K Ispat Pvt. Ltd. & Anr. are the Respondents. During the pendency of Company Appeal (AT) (CH) (Ins) No.100/2024, the parties arrived at a mutual settlement agreement. This settlement is evidenced by a 'Joint Memo', Settlement vide Page 11 of the IA No.311/2024. The Impugned Order dated 16.02.2024 was passed by the 'Adjudicating Authority' / 'Tribunal' in CP(IB) No.18/BB/2023. The '2nd Respondent' / 'IRP' is permitted to file appropriate / necessary Interlocutory Application, before the ‘Adjudicating Authority' / ‘Tribunal', to lay a claim in respect of CIRP costs and expenses against it before the 'Adjudicating Authority' / ‘Tribunal'.

## Issues and analysis

### Issue 1: Whether the mutual settlement agreement reached between the parties during the pendency of the …

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

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**Reasoning:** The tribunal noted that both the 'Appellant' and the '1st Respondent' acknowledged the

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**Interpretation:** The interpretation of the law favors the enforcement of settlement agreements,

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**Application:** In this specific case, the mutual settlement was the basis for setting aside

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## Parties

- **Judges:** M. Venu…; Jatindranat…
- **Appellants:** Sanjay…
- **Respondents:** G K Ispat Pvt.…

## Timeline

- **2024-02-16 — Impugned…**: The Adjudicating Authority passed the…
- **2024-04-12 — Order Da…**: The NCLAT passed an order allowing the appeal…

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