# In the matter of Shri Om Prakash Patel Vs. Raj Rajeshwari Sugar Pvt. Ltd. Through IRP & Anr. CA (AT) (Ins) No. 67 of 2021

> NCLAT judgment dated 2021-07-01. Citation: TCN-2021-NCLAT-00214. The matter pertains to Company Appeal (AT) (Ins.) No. 67 of 2021. The appellant's counsel and…

- **Court:** NCLAT
- **Order date:** 1 Jul 2021
- **Citation:** TCN-2021-NCLAT-00214
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/shri-om-prakash-patel-vs-raj-rajeshwari-sugar-pvt-ltd-through-irp-anr-ca-10879443

## Summary

### Background

The matter pertains to Company Appeal (AT) (Ins.) No. 67 of 2021. The appellant's counsel and the respondent's counsel were present. The matter was listed on 30.06.2021 for admission. The appellant's counsel presented an order dated 17.06.2021 passed under Section 12A read with Regulation 31A & 60 (5) read with Rule 11 of NCLT Rules, 2016 in I.A. No. 89 (MP) 2021 in TP 196 of 2019 [CP (IB) 44 of 2019]. The application was filed on behalf of the parties.

## Facts

Shri Om Prakash Patel filed an appeal against Raj Rajeshwari Sugar Pvt. Ltd. The matter was initially listed for admission on 30.06.2021. The appellant's counsel presented an order dated 17.06.2021. The parties were directed to withdraw the application CP (IB) 44 of 2019. The Corporate Debtor was released from the CIRP. The appellant and respondent reached a settlement, leading to the withdrawal of the appeal. The application under Section 12A read with Regulation 31A & 60 (5) read with Rule 11 of NCLT Rules, 2016 in CP (IB) 44 of 2019 was withdrawn.

## Issues and analysis

### Issue 1: Whether the application CP (IB) …

**Ratio:** The legal principle is that parties can withdraw applications if they reach a settlement

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**Reasoning:** The court directed the parties to withdraw the application, indicating an acceptance of

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**Interpretation:** This reflects the court's deference to the parties' autonomy in resolving

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**Application:** The parties' decision to withdraw the application was accepted, and the court

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## Parties

- **Judges:** Anant Bijay…; Shreesha…
- **Appellants:** Om Prakash…
- **Respondents:** Raj Rajeshwari…

## Timeline

- **2021-06-30 — Matter L…**: The matter was listed…
- **2021-07-01 — Order Compliance and…**: Learned Counsel for the Appellant had complied…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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