# In the matter of Vishwajeet Jhavar vs. Jay Nihalani & Ors.

> NCLAT judgment dated 2025-07-09. Citation: TCN-2025-NCLAT-00302. The appeal was filed against the order dated 13.06.2025 passed by the National Company Law…

- **Court:** NCLAT
- **Order date:** 9 Jul 2025
- **Citation:** TCN-2025-NCLAT-00302
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vishwajeet-jhavar-vs-jay-nihalani-ors-8f6d041a

## Summary

### Background

The appeal was filed against the order dated 13.06.2025 passed by the National Company Law Tribunal, Mumbai Bench-VI, which admitted an application filed under Section 7 of the Code by Financial Creditors/Homebuyers.

## Facts

An appeal was filed against the order dated 13.06.2025 passed by the National Company Law Tribunal, Mumbai Bench-VI.

The application was filed under Section 7 of the Code by Financial Creditors/Homebuyers.

A settlement between the appellant and the respondents (Homebuyers) was discussed.

Respondents No. 1 to 12 (Homebuyers) consented to the terms of settlement through E-mail.

Counsel for the Homebuyer accepted the settlement and submitted that Form FA is signed for filing the application under Regulation 30A.

The present appeal has become infructuous as the parties would now pursue the application filed under Regulation 30A.

The IRP was directed not to take any further steps in terms of the CIRP which otherwise affect the rights of the parties to the settlement.

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## Issues and analysis

### Issue 1: Whether the settlement between the appellant and the respondents (Homebuyers) is valid and …

**Ratio:** The court considered the submissions regarding the settlement, including emails

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**Reasoning:** The court noted that the respondents had consented to the terms of settlement through

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**Interpretation:** The court interpreted the submissions and evidence as indicating that a valid

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**Application:** The court disposed of the appeal as infructuous, indicating that the settlement

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## Parties

- **Judges:** Rakesh Kuma…; Mohammad Faiz…; +1 more
- **Appellants:** Vishwajeet…
- **Respondents:** Jay Nih…
- **Other parties:** Ayush J.…
- **Advocates:** Arun Kath…; Dhaval Des…; +6 more

## Timeline

- **2025-06-13 — Order Da…**: Order passed by the National Company Law Tribunal, Mumbai Bench-VI in CP (IB) No.…
- **2025-06-23 — Court Or…**: The court passed an order regarding the settlement between the parties and directed the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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