National Company Law Appellate Tribunal
Ujwal Gupta, Director of Greenworld International Pvt. Ltd. & Ors. vs Italimpianti Orfi Spa & Ors on 28 February 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 19 of 2020
In the matter of:
Ujwal Gupta, Director of Greenworld International Pvt. Ltd. & Ors.
....Appellants
Vs.
Italimpianti Orafi Spa & Ors.
....Respondents
Present:
Appellants:
Present but appearance not marked.
Respondents:
Mr. Chandrashekhar Yadav, Mr. Pankaj Kumar and Ms. Gitanshi Arora, Advocates.
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ORDER
28.02.2020: Since the Appellant intends to settle the claim with the only two creditors and as according to him he has already settled with one i.e. ‘Union Bank of India’, the Appellant may settle with Respondent No. 1, if he so chooses, under the mechanism contemplated under Section 12 A of the I&B Code. In view of the same, we find that the pendency of this appeal does not serve any purpose and the same is required to be disposed of. We accordingly dispose of the appeal, however, giving liberty to the Appellant to re-agitate the matter if the cause survives.
[Justice Bansi Lal Bhat] Member (Judicial)
[V. P. Singh] Member (Technical)
[Alok Srivastava] Member (Technical) am/nn