Case Law Details
Gaurav Pandey Vs Eternity Investment Services Pvt. Ltd. & Anr. (National Company Law Appellate Tribunal, Delhi)
30.11.2018 On 16th November, 2018 when the matter was taken up, the following order was passed :
“Apart from other issues raised in the appeal it is contended by learned senior counsel representing the Appellant (Corporate Debtor) that a settlement has been reached between the parties and the factum of the Corporate Debtor having worked out a settlement with the Financial Creditor had been brought to the notice of the learned Adjudicating Authority on the very date of pronouncement of order of admission of the application filed under Section 7 by the Respondent – Financial Creditor, which declined to allow the Respondent – Financial Creditor to withdraw the application on the ground that the matter had been fixed for pronouncement.
Issue Notice. Mr. Nitesh Shrivastava, Advocate accepts notice on behalf of the 1st Respondent (Financial Creditor). Mr. Savar Mahajan, Advocate accepts notice on behalf of 2nd Respondent (IRP). No further notice needs to be issued on Respondents. Since the Respondent – Financial Creditor admits that the settlement had been arrived at between the Financial Creditor and the Corporate Debtor prior to passing of impugned order of admission, the appeal be posted ‘for orders’ on 30th November, 2018.
In the meanwhile, the Interim Resolution Professional shall not take any further steps in regard to Corporate Insolvency Resolution Process.”
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