2018 (1) TMI 65

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....r>Mr. S.J. Mukhopadhaya And Mr. Bansi Lal Bhat, JJ. For The Appellants: : Mr. Nesar Abmad, PCS, Mr. Ashutosh Dubey, Mr. Ramas and Tarun Khanna, Advocates For The Respondent : Mr. Sumesh Dhawan and Vatsala Kak, Advocates ORDER This appeal has been preferred by Appellants against the order dated 24th November, 2017 passed by Adjudicating Authority (National Company Law Tribunal), Princip....

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.... that settlement has been reached after the impugned order dated 24th November, 2017 was passed and only part payment has been made. 4. It is a settled law that after admission of an application under Section 7 of the I &B Code', the 'Financial Creditor' or 'Operational Creditor' or 'Corporate Applicant' cannot withdraw the application even if a settlement has been made. The Adjudicating Author....

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....as no jurisdiction to accept the settlement reached between the parties to annul the impugned order, though it is open to the Appellants to move before a court of competent jurisdiction for appropriate relief. 6. After the order was dictated, learned Company Secretary appearing on behalf of the Appellants, requested to pass interim order of protection to enable the appellant to move before the ....