Case Note & Summary
The Company Appeal (AT) (CH) (Ins) No. 207/2025 was filed by Anuj Nautiyal against an order dated 07.04.2025 from the NCLT, Bengaluru Bench, which admitted applications under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the Corporate Debtor, Embassy Services Pvt. Ltd. The appeal was initially granted an interim order on 21.04.2025, which continued until the parties filed an application under Section 12A of the IBC to settle their dispute. Due to the interim order creating an impediment for the Section 12A application, the NCLT was allowed to proceed with the matter uninfluenced by the interim order. On 06.04.2026, the NCLT confirmed that the Section 12A proceedings had attained finality, and the parties had resolved their dispute. Consequently, the Company Appeal was disposed of in accordance with the settlement reached under Section 12A, as per the NCLT's order. The members of the tribunal included Justice Sharad Kumar Sharma and Jatindranath Swain.
Headnote
A) Insolvency Law - Interim Orders - Effect of Interim Orders on Settlement Proceedings - Insolvency and Bankruptcy Code, 2016, Section 12A - The court clarified that the interim order should not impede the proceedings under Section 12A, allowing the NCLT to decide the matter uninfluenced by the interim order. The appeal was disposed of as the parties reached a settlement, confirming the finality of the NCLT's decision on the matter (Paras 1-2).
Issue of Consideration
Whether the Company Appeal should be disposed of following the settlement under Section 12A of the IBC.
Final Decision
The Company Appeal was disposed of in terms of the settlement reached under Section 12A of the IBC, following the NCLT's order on 06.04.2026.
Law Points
- Interim order
- Section 12A
- IBC
- 2016
- NCLT jurisdiction
- settlement of disputes
