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

> Read the full IBC case summary for In the matter of Vishwajeet Jhavar vs. Jay Nihalani & Others. NCLAT judgment dated 2025-06-25. Citation:…

- **Court:** NCLAT
- **Order date:** 25 Jun 2025
- **Citation:** TCN-2025-NCLAT-00349
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vishwajeet-jhavar-vs-jay-nihalani-others-c38044b1

## Summary

### Background

The case involves a settlement agreement between the appellant and some respondents/allottees, with various emails allegedly showing acceptance of the terms by other respondents/allottees. The NCLAT is reviewing the settlement and the need for a better affidavit.

## Facts

The appellant, Vishwajeet Jhavar, and the respondents, Jay Nihalani & Ors., are involved in a Company Appeal (AT) (Insolvency) No. 884 of 2025 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi. The matter was heard in hybrid mode on June 25, 2025, with senior counsel representing both sides, including Mr. Arun Kathpalia for the appellant and Ms. Kanchi Ahuja, Mr. Chaitanya Nikte, and Mr. Ayush J Rajani for the respondents and IRP, respectively.

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## Issues and analysis

### Issue 1: Whether a better affidavit regarding the settlement between the parties needs to be placed on…

**Ratio:** A better affidavit is required to formally document and confirm the terms of the…

**Reasoning:** The court viewed that a better affidavit must be placed on record to substantiate the…

**Interpretation:** The court interpreted the need for a 'better affidavit' as a requirement for…

**Application:** The appellant was directed to bring a duly signed settlement with a better…

## Parties

- **Judges:** Mohammad Faiz…; Arun Ba…
- **Advocates:** For the Appellant:…; Rahul G…; +7 more

## Timeline

- **June 25, 2025 — Hearing and…**: The NCLAT heard the matter, noting the settlement agreement and emails, and issued an…
- **July 9, 2025 — Next Listin…**: The case is listed for further hearing, by which time the settlement documents and better…

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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/vishwajeet-jhavar-vs-jay-nihalani-others-c38044b1