# In the matter of Apeksha Housing Pvt. Ltd. IA No. 265-JPR-2021 & IA No. 450-JPR-2022 in CP No. (IB) -65-7-JPR-2019

> NCLT judgment dated 2022-09-21. Citation: TCN-2022-NCLT-00976. The case involves M/s Neelkanth Gum and Chemicals as the Financial Creditor/Applicant and M/s…

- **Court:** NCLT
- **Order date:** 21 Sept 2022
- **Citation:** TCN-2022-NCLT-00976
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/apeksha-housing-pvt-ltd-ia-no-265-jpr-2021-ia-no-450-jpr-2022-in-cp-no-ib-65-7-j-63d7028c

## Summary

### Background

The case involves M/s Neelkanth Gum and Chemicals as the Financial Creditor/Applicant and M/s Apeksha Housing Pvt. Ltd. as the Corporate Debtor/Respondent. The Financial Creditor filed an IA No. 450/JPR/2022 under Rule 11 of the NCLT Rules, 2016, seeking to place a settlement deed dated 01.09.2022 on record.

## Facts

M/s Neelkanth Gum and Chemicals, the Financial Creditor/Applicant, initiated proceedings against M/s Apeksha Housing Pvt. Ltd., the Corporate Debtor/Respondent, under Section 7 of the IBC, 2016. The Financial Creditor filed IA No. 450/JPR/2022 to place a settlement deed dated 01.09.2022 on record, which the court accepted. Subsequently, the Financial Creditor sought to withdraw the main petition, CP No. (IB)- 65/7/JPR/2019, which was granted by the court, leading to the dismissal of the petition and the disposal of all pending IAs.

## Issues and analysis

### Issue 1: Whether the Financial Creditor's application to place the settlement deed on record should be …

**Ratio:** The court has the discretion to allow the placement of documents on record if they are

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**Reasoning:** The court considered the application and found it appropriate to take the settlement deed

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**Interpretation:** This reflects the court's procedural power to manage evidence and ensure a

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**Application:** The court's decision to take the settlement deed on record indicates its

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## Parties

- **Judges:** Deep Chandr…; Ajai Das Me…
- **Appellants:** M/s Neelkanth Gum…
- **Respondents:** M/s Apeksha…

## Timeline

- **2022-09-01 — Settlement De…**: Settlement deed was…
- **2022-09-21 — Order Da…**: Order issued by 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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