# In the matter of Sanjay Wamanrao Bhosle & Anr. vs.  Ami Corporation & Anr.

> NCLAT judgment dated 2023-08-14. Citation: TCN-2023-NCLAT-00283. The appeal was filed against the order dated 23.06.2023 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 14 Aug 2023
- **Citation:** TCN-2023-NCLAT-00283
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sanjay-wamanrao-bhosle-anr-vs-ami-corporation-anr-8e47d96b

## Summary

### Background

The appeal was filed against the order dated 23.06.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, which admitted an application under Section 7 of the IBC filed by the Financial Creditor. An interim order was passed by the Tribunal on 07.07.2023.

## Facts

The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, admitted an application under Section 7 of the IBC filed by the Financial Creditor on 23.06.2023. An appeal was filed against this order. An interim order was passed on 07.07.2023. Subsequently, both parties jointly filed I.A. 3697 of 2023, submitting Consent Terms dated 09.08.2023, indicating that they had settled their issues. The Appellant's counsel submitted that the IRP fees, as fixed by the Adjudicating Authority, would be paid as per the Consent Terms. The key fact is the settlement between the parties leading to the disposal of the appeal and closure of the CIRP.

## Issues and analysis

### Issue 1: Whether the appeal against the order dated 23.06.2023 should be disposed of in light of the …

**Ratio:** When parties reach a settlement and submit Consent Terms, the court can dispose of the

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**Reasoning:** The parties jointly filed I.A. 3697 of 2023, bringing on record Consent Terms dated

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**Interpretation:** The legal principle allows for the disposal of cases when parties have reached

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**Application:** Since the parties settled their issues and submitted Consent Terms, the appeal

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Sanjay Wamanrao…
- **Respondents:** Ami Corpo…
- **Advocates:** Abhijeet…; Radhika G…; +4 more

## Timeline

- **2023-06-23 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, passed an order…
- **2023-07-07 — Interim…**: An interim order was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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