Mr. Surender Modi vs Kaliber Associates Pvt. Ltd
- CitationComp. App. (AT) (Ins) No. 1035 of 2025
Ratio decidendi
The rule this decision rests on
The order is a disposal by consent: the appeal is closed on the parties' settlement, with liberty to the financial creditor to file a section 12A withdrawal application before the IRP, and the admission order is left undisturbed. It contains no reasoning on any legal question beyond recording that the appellate court finds no error in the section 7 admission, which is a bare conclusion without stated reasons. NO_RATIO: The appeal was disposed of by consent on the parties' settlement, and the order states no reasoning on any legal principle; the only finding ("we find no error in order admitting section 7 application") is unexplained.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Surender Modi, Director with Powers Suspended, J.R. Modi Associates Ltd. ...Appellant
Versus
Kaliber Associates Pvt. Ltd. Through ...Respondent Present: For Appellant : Mr. Apoorv Agarwal, Mr. Manav Goyal. Ms. Ritika Guasain, Ms. Aastha, Advocate For Respondent : Mr. Amirban Bhattacharye, Mr. Rajeev Chowdhary, Advocate for R-1 Mr. Rajeev Bajaj, Advocate for IRP
ORDER
(Hybrid Mode) 20.08.2025: Heard counsel for the appellant and counsel for the
respondent. This application has been filed against order dated 11.07.2025
passed by National Company Law Tribunal, New Delhi, Court No. 4 by
which section 7 Application filed by the respondent M/S Kaliber Associates
Pvt. Ltd. has been admitted, Kaliber Associates Pvt. Ltd, had filed an
application through liquidator.
It is submitted that the offer received from the Corporate Debtor, has
been considered, in the meeting of the Stake Holder Consultation Committee
and has been approved.
Learned counsel for the respondent submits that the section 12 A
application shall be filed for withdrawal of section 7 application after the
payment is received by respondent, herein.
Learned counsel for the appellant submits that appellant shall abide
by terms of settlement in between parties.
In view of the above facts, we see no reason to keep the appeal
pending.
Appeal is disposed of. giving liberty to Respondent No. 1 to file
a Section 12 A application from the IRP as per section 12A read with
regulation 30 A of the CIRP Regulation 2016.
We find no error in order admitting section 7 application.
Appeal disposed of, accordingly.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
tushar/nn
2|2
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