Mr. V.M. Sasikumar vs M/s. Oxyzo Financial Services Pvt. Ltd. & Anr.

04.09.2023: It is represented on behalf of the respective sides through Learned Counsel Mr. P.H. Arvindh Pandian, Learned Sr. Advocate appearing on behalf of ‘Appellant’ and Mr. Prateek Jain, Learned Counsel for R-1 that the Disputes between the ‘Corporate Debtor’ and R-1/Financial Creditor were resolved between the ‘Appellant’ and ‘Respondent’ No. 1 and as such, ‘Joint Memo’ filed by the ‘Appellant/R-1’ dated 01.09.2023 is taken on record by this ‘Tribunal’ in the instant ‘Appeal’. Regarding the aforesaid ‘Joint Memo’ filed on behalf of ‘Appellant’ and ‘Respondent’ No. 1side, among other things, it is mentioned that the dispute between the ‘Appellant’ and ‘Respondent No. 1’ were settled, this ‘Tribunal’ records the said fact in a ‘categorical’ and ‘unequivocal terms’ and allows the instant Company Appeal(AT)(CH)(Ins) No. 198/2023 filed before this ‘Appellate Tribunal’ by setting aside the ‘Impugned Order’ in terms of the ‘Joint Compromise’ and the ‘Impugned Order’ dated 28.06.2023 passed in CP(IB)/340(CHE)/2021 before the ‘Adjudicating Authority’/NCLT, Division Bench-2, Chennai is set aside and the main CP(IB)/340(CHE)/2021 is dismissed. No Costs. Connected pending I.A. Nos. 647 & 648 of 2023 are closed.