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2020 (10) TMI 392 - Tri - Insolvency and BankruptcyContinuation of proceedings in the Commercial Suits - HELD THAT:- The enforcement of the settlement entered into between the litigating parties in the two commercial suits would require legal proceedings to be instituted, which would squarely fall within the meaning “other legal proceeding” mentioned in the proviso to sub-section (5) of section 33 - Considering the value of the settlement arrived at, we are convinced that the terms of the settlement entered into in the two Commercial Suits bearing No.842/2017 and No.310/2018 before the Hon’ble Bombay High Court will inure to the benefit of the Corporate Debtor, thus increasing its liquidation value. This Adjudicating Authority hereby accords its approval to the Liquidator to take appropriate legal steps to enforce the settlement in the two Commercial Suits bearing No.842/2017 and No.310/2018 before the Hon’ble Bombay High Court, for the benefit of the Corporate Debtor - Application disposed off.
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