# In the matter of Vishal Gupta Vs. Suntech Infra Solutions Pvt. Ltd. & Anr. CA (AT) (Insolvency) No. 615-2019

> NCLAT judgment dated 2019-06-10. Citation: TCN-2019-NCLAT-00514. Vishal Gupta, Director of M/s Shri Balaji Infra Developers Pvt. Ltd., filed an appeal against…

- **Court:** NCLAT
- **Order date:** 10 Jun 2019
- **Citation:** TCN-2019-NCLAT-00514
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vishal-gupta-vs-suntech-infra-solutions-pvt-ltd-anr-ca-69edbbf3

## Summary

### Background

Vishal Gupta, Director of M/s Shri Balaji Infra Developers Pvt. Ltd., filed an appeal against the order dated 27th May, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Bench-II, which admitted an application filed by M/s Suntech Infra Solutions Pvt. Ltd. (‘Operational Creditor’) under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Shri Balaji Infradevelopers Pvt. Ltd. (‘Corporate Debtor’).

## Facts

M/s Suntech Infra Solutions Pvt. Ltd. (‘Operational Creditor’) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Shri Balaji Infradevelopers Pvt. Ltd. (‘Corporate Debtor’). The Adjudicating Authority admitted the application via an order dated 27th May, 2019. Vishal Gupta, Director of M/s Shri Balaji Infra Developers Pvt. Ltd., filed an appeal against this order. During the appeal proceedings, the Appellant submitted that they wanted to settle the dispute and had prepared a draft for Rs.33 lakhs payable to the ‘Operational Creditor’. A copy of the settlement dated 7th June, 2019, was placed on record, showing that Rs.33 lakhs had been handed over to the Respondent – M/s Suntech Infra Solutions Pvt. Ltd. The Interim Resolution

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## Issues and analysis

### Issue 1: Whether the settlement reached between the appellant and the respondent warrants setting aside the …

**Ratio:** A settlement between parties in an insolvency proceeding can be recognized and given

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**Reasoning:** The court considered the fact that the parties had settled the matter, with the appellant

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**Interpretation:** The court interpreted the settlement as a valid resolution of the dispute,

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**Application:** The ratio was applied to the specific facts of the case, where the settlement

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Appellants:** Vishal…
- **Respondents:** M/s Shri Balaji…; M/s Suntech Infra…
- **Advocates:** Akhil…; Saurabh…

## Timeline

- **2019-05-27 — Impugned…**: Adjudicating Authority (National Company Law Tribunal) admitted the application filed by…
- **2019-06-06 — Appellant's Su…**: Appellant submitted that they want to settle the dispute and a draft for Rs.33 lakhs…

## 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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