# In the matter of Vishwajeet Jhavar Vs Catalyst Trusteeship Ltd & Anr

> NCLAT judgment dated 2024-09-18. Citation: TCN-2024-NCLAT-00192. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT). The…

- **Court:** NCLAT
- **Order date:** 18 Sept 2024
- **Citation:** TCN-2024-NCLAT-00192
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vishwajeet-jhavar-vs-catalyst-trusteeship-ltd-anr-14dd2596

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT). The appellant, Vishwajeet Jhavar, has submitted a settlement proposal. The respondent's counsel states that they received the proposal recently and require four weeks to consider it.

## Facts

Vishwajeet Jhavar filed an appeal. The appellant submitted a settlement proposal to Catalyst Trusteeship Ltd & Anr. The respondent's counsel received the proposal the night before the hearing and requested four weeks to review it. The court is considering the settlement proposal and the constitution of the Committee of Creditors.

## Issues and analysis

### Issue 1: Whether the respondent should be granted additional time to review the appellant's settlement …

**Ratio:** Parties are generally afforded reasonable time to consider settlement proposals,

…

**Reasoning:** The respondent's counsel stated that they received the proposal only the night before the

…

**Interpretation:** Courts often grant extensions to facilitate potential settlements, recognizing

…

**Application:** Given the recent receipt of the proposal, the court granted the respondent four

…

## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Vishwajeet…
- **Respondents:** Catalyst Trusteesh…

## Timeline

- **2024-09-18 — Hearing…**: Counsel for the Appellant submits that appellant has given a proposal for settlement.…
- **2024-10-17 — Next Hearin…**: Appeal listed for…

---

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/vishwajeet-jhavar-vs-catalyst-trusteeship-ltd-anr-14dd2596