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TMI Blog2021 (4) TMI 1358X X X X Extracts X X X X X X X X Extracts X X X X ..... tional Company Law Tribunal, New Delhi Bench, (Court -II) New Delhi in I.A. No. 977 of 2021 in C.P. No. (IB)-1721(ND)2018 whereby the Adjudicating Authority rejected the Application to recall the Orders which the Tribunal had passed while disposing the Petition IB-1721(ND)/2018 on 09th May, 2019. 3. It is argued and the Appeal claims that the Appellant had filed Application under Section 7 of Insolvency and Bankruptcy Code, 2016 (IBC in short) against the Corporate Debtor Respondent which was admitted. Later on, there was a compromise with Corporate Debtor and in view of the compromise, the Adjudicating Authority was moved and the Application filed under Section 7 of IBC was withdrawn by the Appellant. Adjudicating Authority had ignored Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at in view of this, the Application was filed to the Adjudicating Authority but Adjudicating Authority erroneously dismissed the Application. The Learned Counsel submits that the Application should have been allowed and the earlier order should have been recalled. 5. The Impugned Order is a short Order which reads as under: "IA/977/2021: The Applicant has filed this Application under Section 60(5) of the IBC Code r/w Rule 11 of the NCLT Rules. Heard Ld. Counsel appearing for the Applicant and perused the averment made in the Application. The Ld. Counsel appearing for the Applicant submitted that this Adjudicating Authority vide order dated 09.05.2019 had terminated the CIRP and the file was consigned to the records. He further submitte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which seeks to recall the Order dated 09th May, 2019 which also we have seen, we find it difficult to take a different view from the Adjudicating Authority. There is difference between withdrawal simplicitor making statement that parties have settled. It is different when bringing the settlement on record, and making it a part of the Order of withdrawal liberty is taken and brought on record to restore the proceedings in case of default. IBC is not a recovery proceeding where because the money or part of it has not come, the party may repeatedly come to the Court. Adjudicating Authority has rightly observed that no liberty to revive was there and so declined to interfere. The Appellant would be at liberty to pursue other remedies in law. 7 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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