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2023 Supreme(Online)(CAL) 15348

CALCUTTA HIGH COURT
Shampa Dutt (Paul), J
Ideal Real Estates Pvt. Ltd. – Appellant
Versus
Aris Capital Pvt. Ltd. – Respondent


Advocates:
For the Appellants/Petitioners: Mr. Dipanjan Dutt, Mr. Surojit Saha, Ms. Sonia Nandy, Mrs. Sonia Ojha
For the Respondents: None

Table of Content
1. quashing proceedings on case under section 138. (Para 1 , 2 , 3)
2. circumstances leading to the rejection of the application. (Para 4 , 5)

ORDER

(1) Learned counsel on both sides present.

(2) Three settlement agreements all dated 21.01.2022 have been entered into with the three financial creditor who are petitioners in the present petition.

(3) The corporate debtor has agreed to settle the outstanding between them in terms of the settlement agreements in which future payments are also envisaged the settlement agreements are taken on record and shall form a part of this order.

(4) The undertakings given shall be treated as undertakings given to the court. CP No. 1621/2018 shall stand dismissed as withdrawn in accordance with the three settlement agreements.

(5) Liberty is granted to the financial creditor to file appropriate applications for revival of the company petition at stage at which it was left of in case there is fault.

Balraj Joshi Rajasekhar V.K.Member (Technical) Member (Judicial) The following Judgments of the Supreme Court has been relied upon by the petitioner:-

a) Damodar S. Prabhuvs Sayed Babalal H….,(2010) 5 SCC 663, Criminal Appeals No. 963 of 2010, on

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