# In the matter of Apeksha Infradevelopers Pvt. Ltd. IA No. 448-JPR-2022 in CP No. (IB)- 140-7-JPR-2019

> NCLT judgment dated 2022-09-21. Citation: TCN-2022-NCLT-00987. The case involves M/s Apeksha Infraproject Pvt. Ltd. as the Financial Creditor/Applicant and…

- **Court:** NCLT
- **Order date:** 21 Sept 2022
- **Citation:** TCN-2022-NCLT-00987
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/apeksha-infradevelopers-pvt-ltd-ia-no-448-jpr-2022-in-cp-no-ib-140-7-jpr-2019-03ebe58f

## Summary

### Background

The case involves M/s Apeksha Infraproject Pvt. Ltd. as the Financial Creditor/Applicant and M/s Apeksha Infradevelopers Pvt. Ltd. as the Corporate Debtor/Respondent. The Financial Creditor filed an IA No. 448/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 Apeksha Infraproject Pvt. Ltd. initiated proceedings as a Financial Creditor against M/s Apeksha Infradevelopers Pvt. Ltd., the Corporate Debtor. The Financial Creditor filed IA No. 448/JPR/2022 to place a settlement deed dated 2022-09-01 on record, indicating a resolution between the parties. Subsequently, the Financial Creditor sought to withdraw the main petition, CP No. (IB)- 140/7/JPR/2019. The settlement deed is a key fact as it formed the basis for the withdrawal of the petition, suggesting an agreement between the creditor and the debtor to resolve the outstanding issues.

## Issues and analysis

### Issue 1: Whether the settlement deed dated …

**Ratio:** Rule 11 of the NCLT Rules, 2016 allows for the filing of documents and evidence relevant

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**Reasoning:** The court acknowledged the settlement deed filed by the Financial Creditor, indicating a

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**Interpretation:** Rule 11 provides a procedural mechanism for parties to present relevant

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**Application:** The court applied Rule 11 by accepting the settlement deed on record,

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## Parties

- **Judges:** Deep Chandr…; Ajai Das Me…
- **Appellants:** M/s Apeksha…
- **Respondents:** M/s Apeksha…
- **Advocates:** Saurabh…; Nivedita R.…

## Timeline

- **2019-01-01 — CP No. (IB)- 140/7/JPR/2…**: CP No. (IB)- 140/7/JPR/201…
- **2022-09-01 — Settlement De…**: Settlement deed…

## 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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