# 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-00977. 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-00977
- **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-2019-9aeeb5e1

## 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/Applicant against M/s Apeksha Infradevelopers Pvt. Ltd., the Corporate Debtor/Respondent. The Financial Creditor filed IA No. 448/JPR/2022 to place a settlement deed dated 2022-09-01 on record. Subsequently, the Financial Creditor sought to withdraw the petition. The relevance of the settlement deed is that it formed the basis for the Financial Creditor's decision to withdraw the petition, leading to the dismissal of CP No. (IB)- 140/7/JPR/2019.

## Issues and analysis

### Issue 1: Whether the settlement deed …

**Ratio:** The court has the authority to take settlement deeds on record to facilitate the

…

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

…

**Interpretation:** This confirms the court's role in acknowledging and formalizing settlements

…

**Application:** The settlement deed dated 2022-09-01 was placed on record, acknowledging the

…

## Parties

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

## Timeline

- **2019-01-01 — CP No. (IB)- 140/7/JPR/2…**: The Corporate Insolvency Resolution Process (CIRP) was initiated under CP No. (IB)-…
- **2022-09-01 — Settlement De…**: Settlement deed…

---

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/nclt-division-bench-court-i-chenn/apeksha-infradevelopers-pvt-ltd-ia-no-448-jpr-2022-in-cp-no-ib-140-7-jpr-2019-9aeeb5e1