# In the matter of Suresh Gogia Vs. Prabudhha Sarkar & Anr. CA (AT) (Ins) No. 417 of 2021

> NCLAT judgment dated 2021-07-05. Citation: TCN-2021-NCLAT-00204. The case involves a Company Appeal (AT) (Insolvency) No. 417 of 2021 before the National…

- **Court:** NCLAT
- **Order date:** 5 Jul 2021
- **Citation:** TCN-2021-NCLAT-00204
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/suresh-gogia-vs-prabudhha-sarkar-anr-ca-023ffb40

## Summary

### Background

The case involves a Company Appeal (AT) (Insolvency) No. 417 of 2021 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi. The appellant is Suresh Gogia, and the respondents are Prabudhha Sarkar & Anr. The appeal was filed in relation to a matter under the Insolvency and Bankruptcy Code (I&B Code).

## Facts

Suresh Gogia filed a Company Appeal (AT) (Insolvency) No. 417 of 2021 against Prabudhha Sarkar & Anr. before the National Company Law Appellate Tribunal (NCLAT). During the proceedings, the parties reached a settlement. An application under Section 12(A) of the Insolvency and Bankruptcy Code (I&B Code) was filed and accepted by the Adjudicating Authority, which is the National Company Law Tribunal (NCLT), New Delhi Court No. IV. The Financial Creditor withdrew the proceedings before the NCLT. Consequently, the NCLT disposed of Company Petition (IB).3085/ND/2019 as withdrawn. The appellant's counsel then submitted instructions to withdraw the appeal before the NCLAT, and the respondent's counsel did not object. This led to the disposal of the appeal.

## Issues and analysis

### Issue 1: Whether the appeal can be disposed of as withdrawn based on the settlement between the parties and …

**Ratio:** An appeal can be disposed of as withdrawn if the parties have settled the matter, and the

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**Reasoning:** The court considered the submission of the appellant's counsel that they had instructions

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**Interpretation:** Section 12(A) of the I&B Code allows for the withdrawal of an application

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**Application:** In this case, the parties settled, and the application under Section 12(A) was

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## Parties

- **Judges:** A.I.S. C…; Alok Sriv…
- **Appellants:** Suresh…
- **Respondents:** Prabudhha…
- **Advocates:** Neeraj…; Deepak…; +2 more

## Timeline

- **2021-07-05 — Order Da…**: Counsel for Appellant and Respondent No.1 submit that the parties have settled and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12(a) — Time-limit for completion of insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12)

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