# In the matter of Sukhdev Gehlot, Ex Director Velnik India Pvt. Ltd. vs. Millennium Babycares Pvt. Ltd. & Anr. I.A. No. 4756 of 2022 in Comp. App. (AT) (Ins) No. 1399 of 2022

> NCLAT judgment dated 2022-12-13. Citation: TCN-2022-NCLAT-00035. The appeal was filed against the order dated 16.11.2022 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 13 Dec 2022
- **Citation:** TCN-2022-NCLAT-00035
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sukhdev-gehlot-ex-director-velnik-india-pvt-ltd-vs-millennium-babycares-pvt-ltd-97827958

## Summary

### Background

The appeal was filed against the order dated 16.11.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Jaipur Bench in CP No. (IB) 101/9/JPR/2021, which admitted the application filed under Section 9 of the IBC. A joint application I.A. No. 4756 of 2022 was filed by both parties to record the settlement dated 07.12.2022. The parties requested that the appeal be decided in terms of the settlement and that the settlement agreement be taken on record and the impugned order be set aside. They further requested that the deposited amount be released in favor of the Respondent No. 1 Company.

## Facts

Sukhdev Gehlot, Ex Director of Velnik India Pvt. Ltd., filed an appeal against the order dated 16.11.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Jaipur Bench in CP No. (IB) 101/9/JPR/2021, which admitted the application filed under Section 9 of the IBC. M/s. Millennium Babycares Pvt. Ltd. & Anr. are the respondents. Both parties filed a joint application I.A. No. 4756 of 2022 to record the settlement dated 07.12.2022. The appellant requested the appeal to be decided in terms of the settlement, the settlement agreement to be taken on record, the impugned order to be set aside, and the deposited amount to be released in favor of the Respondent No. 1 Company. The key fact is the settlement agreement between the parties, which led to the

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## Issues and analysis

### Issue 1: Whether the appeal should be decided in terms of …

**Ratio:** A settlement agreement between parties in a legal dispute can form the basis for

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**Reasoning:** The court considered the joint application filed by both parties, which indicated their

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**Interpretation:** The legal principle is that courts generally favor and enforce settlement

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**Application:** In this case, the court applied the ratio by accepting the settlement agreement

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Sukhdev G…
- **Respondents:** Velnik India Pvt.…; M/s. Millennium…

## Timeline

- **2022-11-16 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), Jaipur Bench passed an order…
- **2022-12-07 — Settlement Ag…**: The parties entered into…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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