# In the matter of Sri Santosh Kumar Pareek Vs. Sri Kailash Chandra Agarwal CA (AT) Insolvency) No. 704-2018

> NCLAT judgment dated 2019-03-07. Citation: TCN-2019-NCLAT-00733. The case pertains to Company Appeal (AT) (Insolvency) No. 704 of 2018 before the National…

- **Court:** NCLAT
- **Order date:** 7 Mar 2019
- **Citation:** TCN-2019-NCLAT-00733
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sri-santosh-kumar-pareek-vs-sri-kailash-chandra-agarwal-ca-64fa0ff4

## Summary

### Background

The case pertains to Company Appeal (AT) (Insolvency) No. 704 of 2018 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appellant, Sri Santosh Kumar Pareek, filed an appeal. During the proceedings, the learned counsel submitted that a settlement had been reached, and an application under Section 12A read with Regulation 30A for withdrawal of the application was filed before the Adjudicating Authority (NCLT) Kolkata Bench, New Delhi.

## Facts

Sri Santosh Kumar Pareek filed an appeal before the National Company Law Appellate Tribunal (NCLAT), New Delhi. During the proceedings, the appellant's counsel informed the court that a settlement had been reached between the parties. As a result of this settlement, an application under Section 12A of an unspecified act, read with Regulation 30A of an unspecified regulation, was filed with the Adjudicating Authority (NCLT) Kolkata Bench, New Delhi, seeking withdrawal of the initial application. The Adjudicating Authority accepted the withdrawal application on January 23, 2019. Consequently, the application filed by the Financial Creditor was also withdrawn. The appeal before the NCLAT was rendered infructuous due to these withdrawals.

## Issues and analysis

### Issue 1: Whether the appeal before the NCLAT has become infructuous due to the withdrawal of the application …

**Ratio:** When an application is withdrawn before the Adjudicating Authority based on a settlement

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**Reasoning:** The court reasoned that since the underlying application had been withdrawn with the

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**Interpretation:** This interpretation emphasizes the importance of settlements in resolving

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**Application:** In this case, the application for withdrawal was filed under Section 12A and

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…
- **Appellants:** Santosh Kumar…
- **Respondents:** Kailash Chandra…

## Timeline

- **2019-01-23 — Order by Adjudicating…**: The Adjudicating Authority (NCLT) Kolkata Bench, New Delhi, accepted the application for…
- **2019-03-07 — NCLAT Or…**: Learned Counsel submits that pursuant to settlement, an application u/s 12A read with…

## 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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