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TMI Blog2023 (1) TMI 1421X X X X Extracts X X X X X X X X Extracts X X X X ..... ical) For Appellant: Dr. Pankaj Garg, Mr. Milind Garg, Ms. Nikita Garg and Mr. Yksh Garg, Advocates. For Respondents: None ORDER Heard learned counsel for the Appellant. This appeal has been filed against the order dated 11.01.2023 by which order the Adjudicating Authority has admitted Section 7 application filed by the Financial Creditor. 2. The application under Section 7 was filed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was filed by the Financial Creditor on which following order was passed on 22.11.2021: "RA-32/2021: This is restoration application filed by Authorised Representative of Financial Creditor. It is submitted that vide order dated 06.08.2019, the matter was withdrawn as settled. However, a liberty was granted to revive the Petition in the event of default. The Applicant submits that since there is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... settlement cannot be a financial debt. He submits that there was no disbursement against the time value of money when there was settlement agreement, hence, the application ought not to have been admitted. In his submissions he relied on judgment of this Tribunal in "Amit Kumar Agrawal vs. Tempo Appliances Pvt. Ltd., 2020 SCC Online NCLAT 1202". 6. We have considered submission of learned counsel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o manner affect the claim in the original application which is financial debt under Section 7 application. 8. The judgment which has been relied by learned counsel for the Appellant was a case where there was settlement between the parties and on account of default in the settlement, application under Section 7 was filed and the Court held that default in settlement agreement is not financial deb ..... X X X X Extracts X X X X X X X X Extracts X X X X
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