Rajesh Arora vs Barumal Vinod Kumar & Anr

NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHI Company Appeal (AT) (Insolvency) No. 389 of 2019

IN THE MATTER OF: Rajesh Arora ...Appellant Versus Barumal Vinod Kumar & Anr. ...Respondents Present: For Appellant : Mr. Gaurav Mitra and Mr. Iggu Chittiappa, Advocates

For Respondents: Ms. Prachi Johri, Advocatefor Respondent No. 1 Mr. Ashish Mahija and Mr. Anurag Bhatt, Advocates for Respondent No. 2 ORDER

14.05.2019 This appeal has been preferred by 'Mr. Rajesh Arora',

Shareholder of 'M/s. Amira Pure Foods Pvt. Ltd.' against order dated 11th

December, 2018 passed by the Adjudicating Authority (National Company Law

Tribunal), New Delhi Bench which admitted the application under Section 9 of

the 'Insolvency and Bankruptcy Code, 2016 (for short, the 'I&B Code') filed by

'Mr. Baru Mal Vinod Kumar' ('Operational Creditor')

2. The main plea taken is that prior to the admission of the application under

9 of the I&B Code, the parties had reached the settlement on 10th December,

2018.

3. Learned counsel appearing on behalf of the 'Resolution Professional'

submitted that the 'Settlement Agreement' is afterthought and fraudulently

reached between the parties. It is submitted that even later the claim has been

filed by the 'Operational Creditor' before the 'Resolution Professional', which is

dated 25th December, 2018. According to him, if such settlement has been

arrived, there was no occasion for the 'Operational Creditor' to file claim

pursuant to the notice published in the newspaper. It is further submitted that the 'Committee of Creditors' have been constituted and there are other claimants

and the total claimed amount is Rs.1832 Crores.

4. Learned counsel appearing on behalf of the 'Operational Creditor' submits

that the parties settled the matter on 10th December, 2018 but adds that

subsequently the amount was not paid. It is further submitted that the

agreement was never honoured, which is the reason the 'Operational Creditor'

file a claim with 'Resolution Professional'.

5. We have heard the learned counsel for the parties and perused the so

called 'Settlement Agreement' dated 10th December, 2018, which is on plain

paper and does not have date at the foot nor has the date of verification below

the signatures. In absence of such dates below the signatures and being on

plain paper and the fact that it was not brought to the notice of the Adjudicating

Authority by either of the parties and the 'Operational Creditor' filed claim

subsequently dated 25th December, 2018, we are not inclined to exercise our

inherent power under Rule 11 of the 'National Company Law Appellate Tribunal

Rules, 2016' and not inclined to allow the 'Operational Creditor' to withdraw the

application under Section 9 of the I&B Code. The appeal is accordingly

dismissed. No costs.

[Justice S.J. Mukhopadhaya] Chairperson

[ Justice A.I.S. Cheema ] Member (Judicial)

[ Kanthi Narahari ] Member (Technical) /ns/gc