The case involves a Company Appeal (AT) (Ins.) No. 700 of 2022 before the National Company Law Appellate Tribunal (NCLAT). The appellant, Sushil Kumar Aggarwal, filed the appeal against Prayag Polytech Pvt. Ltd. & Anr. The matter was brought before the tribunal because a settlement agreement was reached between the parties. The appellant sought permission to withdraw the appeal due to the settlement.
Sushil Kumar Aggarwal filed a Company Appeal (AT) (Ins.) No. 700 of 2022 against Prayag Polytech Pvt. Ltd. & Anr. A settlement agreement was reached between the parties on 15.06.2022, where the Corporate Debtor settled the amount. The amount of Rs. 12,64,405/- was fully paid by the Corporate Debtor. Consequently, the Appellant sought permission to withdraw the appeal. Respondent No. 2/Interim Resolution Professional filed an application under Section 12 A of the IBC, 2016, seeking withdrawal of the main application. The Adjudicating Authority had not yet numbered the application due to summer recess. The Adjudicating Authority passed an impugned order dated 13.06.2022 in CP (IB) No. 312/ALD/2019.
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Settlement Agreement was…
The Tribunal dismissed…
The case involves a Company Appeal (AT) (Ins.) No. 700 of 2022 before the National Company Law Appellate Tribunal (NCLAT). The appellant, Sushil Kumar Aggarwal, filed the appeal against Prayag Polytech Pvt. Ltd. & Anr. The matter was brought before the tribunal because a settlement agreement was reached between the parties. The appellant sought permission to withdraw the appeal due to the settlement.
Sushil Kumar Aggarwal filed a Company Appeal (AT) (Ins.) No. 700 of 2022 against Prayag Polytech Pvt. Ltd. & Anr. A settlement agreement was reached between the parties on 15.06.2022, where the Corporate Debtor settled the amount. The amount of Rs. 12,64,405/- was fully paid by the Corporate Debtor. Consequently, the Appellant sought permission to withdraw the appeal. Respondent No. 2/Interim Resolution Professional filed an application under Section 12 A of the IBC, 2016, seeking withdrawal of the main application. The Adjudicating Authority had not yet numbered the application due to summer recess. The Adjudicating Authority passed an impugned order dated 13.06.2022 in CP (IB) No. 312/ALD/2019.
Settlement Agreement was…
The Tribunal dismissed…