# In the matter of Vishweswara Bhat vs. Vishwakshara Media Pvt. Ltd. & Anr. I.A. No. 546 of 2021 in Company Appeal(AT)(CH)(Insolvency) No. 254 of 2021

> NCLAT judgment dated 2021-11-30. Citation: TCN-2021-NCLAT-00034. Company Appeal (AT)(CH)(Insolvency) No. 254 of 2021 was filed before the National Company Law…

- **Court:** NCLAT
- **Order date:** 30 Nov 2021
- **Citation:** TCN-2021-NCLAT-00034
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vishweswara-bhat-vs-vishwakshara-media-pvt-ltd-anr-ia-no-546-of-2021-in-company-6ce0190a

## Summary

### Background

Company Appeal (AT)(CH)(Insolvency) No. 254 of 2021 was filed before the National Company Law Appellate Tribunal, Chennai Bench. The appeal was related to an order passed by the Adjudicating Authority (National Company Law Tribunal, Bengaluru Bench, Bengaluru) in (IB)/327/BB/2019. An interim application, I.A. No. 546 of 2021, was also filed in connection with the appeal.

## Facts

Vishweswara Bhat filed an appeal against Vishwakshara Media Pvt. Ltd. & Anr. before the National Company Law Appellate Tribunal, Chennai Bench. The appeal, Company Appeal (AT)(CH)(Insolvency) No. 254 of 2021, was related to an order dated 17.08.2021 passed in (IB)/327/BB/2019 by the Adjudicating Authority (National Company Law Tribunal, Bengaluru Bench). During the proceedings, the counsels informed the court that a settlement had been reached between the parties. Consequently, the court dismissed the appeal as withdrawn. The Interim Resolution Professional was permitted to move before the Adjudicating Authority for filing necessary applications. A stay was granted on the order dated 17.08.2021.

## Issues and analysis

### Issue 1: Whether the Company Appeal (AT)(CH)(Insolvency) No. 254 of 2021 should be dismissed as withdrawn …

**Ratio:** When parties to a legal proceeding reach a settlement, the court may dismiss the

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**Reasoning:** The court's decision to dismiss the appeal as withdrawn is based on the information

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**Interpretation:** This legal issue involves the interpretation of procedural law regarding the

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**Application:** In this specific case, the court applied the principle that a settlement

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## Parties

- **Judges:** M. Venu…; KanthiNar…
- **Appellants:** Vishweswar…
- **Respondents:** Vishwakshara…

## Timeline

- **2021-11-30 — Order Da…**: The court heard both sides and dismissed the Company Appeal (AT)(CH)(Insolvency) No. 254…
- **2021-08-17 — Order St…**: The court stayed the order passed in (IB)/327/BB/2019 by the Adjudicating Authority…

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