# In the matter of Subhash Agarwal vs. Asha Goyal Company Appeal (AT) (Ins.) No. 40 of 2023

> NCLAT judgment dated 2023-05-01. Citation: TCN-2023-NCLAT-00562. The appeal was filed, and during its pendency, the appellant proposed to approach the…

- **Court:** NCLAT
- **Order date:** 1 May 2023
- **Citation:** TCN-2023-NCLAT-00562
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/subhash-agarwal-vs-asha-goyal-company-appeal-0457576c

## Summary

### Background

The appeal was filed, and during its pendency, the appellant proposed to approach the National Company Law Tribunal (NCLT) for filing an application for disposal of the Corporate Insolvency Resolution Process (CIRP) in terms of a settlement already arrived at between the parties. An earlier interim order of stay was passed in the case, and the appellant requested the tribunal to provide some protection to enable him to file a proper petition before the NCLT.

## Facts

Subhash Agarwal filed an appeal. During the pendency of the appeal, a settlement was reached between the parties. The appellant proposed to approach the National Company Law Tribunal (NCLT) for filing an application for disposal of the Corporate Insolvency Resolution Process (CIRP) in terms of the settlement. An interim order of stay had been passed earlier in the case. The appellant requested the tribunal to provide some protection to enable him to file a proper petition before the NCLT. The court disposed of the appeal, granting the appellant liberty to file an appropriate application before the Adjudicating Authority within one week. The interim order of stay was extended for three weeks. The NCLT was expected to take appropriate decision on such application within

…

## Issues and analysis

### Issue 1: Whether the appellant should be granted liberty to file an appropriate application before the …

**Ratio:** The court has the discretion to allow parties to pursue settlement agreements and to

…

**Reasoning:** The court considered the submissions of the appellant's counsel and found it appropriate

…

**Interpretation:** This allows the appellant to formally present the settlement to the

…

**Application:** The court applied this principle by granting the appellant one week to file the

…

## Parties

- **Judges:** Rakesh…; Alok Sriv…
- **Appellants:** Subhash A…
- **Respondents:** Asha G…
- **Advocates:** Lokesh…

## Timeline

- **2023-05-01 — Order Da…**: Learned Counsel for the Appellant submits that during the pendency of this appeal, some…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/subhash-agarwal-vs-asha-goyal-company-appeal-0457576c