# In the matter of Thippareddygari Harikrishna Reddy & Ors. vs. Ahsan Ahmad

> NCLAT judgment dated 2023-08-07. Citation: TCN-2023-NCLAT-00307. The case involves an appeal against an order passed by the National Company Law Tribunal…

- **Court:** NCLAT
- **Order date:** 7 Aug 2023
- **Citation:** TCN-2023-NCLAT-00307
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/thippareddygari-harikrishna-reddy-ors-vs-ahsan-ahmad-e20cd014

## Summary

### Background

The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), Bengaluru Bench. The Appellants and Respondents have jointly filed an application (IA/782/2023) stating that they have settled their disputes and are in the process of implementing the settlement. They jointly requested the appellate tribunal to set aside the 'Impugned Order' dated 28.03.2023 in CP(IB) No.94/2022 passed by the NCLT, Bengaluru Bench and to withdraw the same.

## Facts

Thippareddygari Harikrishna Reddy, the Suspended Director of M/s. Mantri Developers Pvt. Ltd., and M/s. Indiabulls Housing Finance Ltd. & Anr. were parties to a dispute that led to an 'Impugned Order' dated 28.03.2023 in CP(IB) No.94/2022 on the file of the 'Adjudicating Authority”/“National Company Law Tribunal, Bengaluru Bench'. The parties reached a settlement and jointly filed IA/782/2023 in Comp. App. (AT) (CH) (Ins) No.105/2023 before the National Company Law Appellate Tribunal (NCLAT) at Chennai, seeking to set aside the 'Impugned Order' to facilitate the execution and implementation of the settlement. The IRP was Ahsan Ahmad.

## Issues and analysis

### Issue 1: Whether the appellate tribunal should set aside the 'Impugned Order' dated 28.03.2023 in CP(IB) …

**Ratio:** When parties to a dispute arrive at a settlement through their free will and volition,

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**Reasoning:** The appellate tribunal noted that the parties had settled their disputes and jointly

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**Interpretation:** This legal principle allows the court to consider the settlement reached

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**Application:** In this case, the parties had settled their disputes and jointly requested the

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## Parties

- **Judges:** M. Venu…; Shreesha…
- **Appellants:** Thippareddygari…
- **Respondents:** M/s. Mantri…; M/s. Indiabulls…
- **Advocates:** P.H. Arvindh…; Chandramouli…; +5 more

## Timeline

- **2023-03-28 — Impugned…**: The 'Impugned Order' was passed in CP(IB) No.94/2022 on the file of the 'Adjudicating…
- **2023-08-07 — Order Da…**: The appellate tribunal passed an order allowing the appeal and setting aside the…

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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/thippareddygari-harikrishna-reddy-ors-vs-ahsan-ahmad-e20cd014