Abhishek Singh vs Findoc Finvest Private Limited

Abhishek Singh ...Appellant(s)

Versus

Findoc Finvest Pvt. Ltd. & Anr. ...Respondent(s) Present: For Appellant : Mr. Anurag Ojha, Mr. Vipul Kumar, Mr. Dipak Raj, Advocates. For Respondents : Mr. Sourabh Gupta, Advocate for R-2. Mr. Gitesh Chopra, Advocate for R-1.

ORDER

(Hybrid Mode) 10.07.2025: This appeal is against the order dated 25.04.2025 passed

by the National Company Law Tribunal, New Delhi by which application

filed under Section 7 by the Financial Creditor for the Resolution of an

amount of Rs. 2,44,19,528/- as on 01.05.2022 has been admitted.

2. Counsel appearing on behalf of the appellant had submitted on

04.06.2025, that he is inclined to settle the dispute with the Financial

Creditor. On 16.06.2025, he had submitted that the negotiations are still

going on therefore, the case was adjourned for today.

3. Counsel for the appellant has produced the settlement agreement dated

07.07.2025 and submitted that the entire amount has been paid by way of

demand drafts, mentioned in paragraph 1.1 of the said agreement and the

appellant has also agreed to pay the CIRP cost.

4. In view of the settlement, Counsel for the parties have requested that

this appeal may be disposed of as having become infructuous but the IRP

may be directed not to take any further steps in terms of the order of the

CIRP.

5. The Parties have also submitted that application under Section 12A read

with Regulation 30A shall be filed before the Tribunal.

6. In view of the aforesaid facts and circumstances, the present appeal is

hereby disposed of as infructuous by relegating the parties to the remedy of

filing an application in accordance with law for settlement before the

Tribunal.

7. Till the said application is heard and decided finally, the IRP is directed

not to take any further steps except the CoC takes a decision regarding the

payment of CIRP cost and refund of the EMD to the Prospective Resolution

Applicants (PRA).

[Justice Rakesh Kumar Jain] Member (Judicial)

[Justice Mohammad Faiz Alam Khan] Member (Judicial)

[Naresh Salecha] Member (Technical) sr/rr