# In the matter of Sunil Dhananjay Sapre vs. A.J. Buildcon Pvt. Ltd. & Anr. Company Appeal (AT) (Insolvency) No. 160 of 2023

> NCLAT judgment dated 2023-02-10. Citation: TCN-2023-NCLAT-00723. The appeal was filed against the order dated 08.02.2023 passed in CP (IB) No. 627/MB-IV/2021,…

- **Court:** NCLAT
- **Order date:** 10 Feb 2023
- **Citation:** TCN-2023-NCLAT-00723
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sunil-dhananjay-sapre-vs-aj-buildcon-pvt-ltd-anr-company-appeal-0e255124

## Summary

### Background

The appeal was filed against the order dated 08.02.2023 passed in CP (IB) No. 627/MB-IV/2021, which admitted a Section 9 application filed by the Operational Creditor. The Operational Creditor had filed the Section 9 application claiming an amount of Rs.4,04,43,155/-.

## Facts

Sunil Dhananjay Sapre, Ex. Director of Patel Engineering, filed an appeal against A.J. Buildcon Pvt. Ltd. & Anr. The appeal was against the order dated 08.02.2023 passed in CP (IB) No. 627/MB-IV/2021, which admitted a Section 9 application filed by the Operational Creditor for an amount of Rs.4,04,43,155/-. Subsequently, the Appellant and Respondent No.1 jointly filed I.A. No. 610 of 2023, stating that a settlement agreement had been entered into between the parties on 09.02.2023. The operational debt was paid, and Respondent No. 1 accepted the settlement. The key fact is the settlement agreement and the payment of the operational debt, which led to the disposal of the appeal.

## Issues and analysis

### Issue 1: Whether the settlement agreement between the parties warrants setting aside the impugned order …

**Ratio:** When parties enter into a settlement agreement and the operational debt is paid, the

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**Reasoning:** The court reasoned that since the parties had entered into a settlement agreement and the

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**Interpretation:** This interprets that settlement agreements are encouraged and given due

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**Application:** The ratio and reasoning were applied to the facts of the case, where the

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Sunil Dhananjay…
- **Respondents:** A.J. Buildcon…

## Timeline

- **2021-01-01 — CP (IB) No. 627/MB-IV/20…**: CP (IB) No. 627/MB-IV/20…
- **2023-02-08 — Impugned…**: Order passed in CP (IB) No.…

## 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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