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TMI Blog2021 (2) TMI 1221X X X X Extracts X X X X X X X X Extracts X X X X ..... of debt and dispute or not - HELD THAT:- There is no legal impediment for the CoC to entertain the settlement terms if they are mutually acceptable to both the parties, i. e., the appellant and respondent No. 1. If the IRP is approached by the appellant and respondent No. 1 by filing the settlement terms in proper format, he will place the same before the CoC for consideration. This may be done w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 21] 224 Comp Cas 589 (NCLT)) passed by the Adjudicating Authority (National Company Law Tribunal), Court-V, Mumbai Bench, admitting the application under section 9 of the Insolvency and Bankruptcy Code, 2016 ( I and B Code for short) filed by respondent No. 1 (operational creditor) is that respondent No. 1 did not qualify as operational creditor as the debt in question did not fall within the pur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rived at and settlement/ consent terms having been recorded yesterday. 4. Mr. Ravi Prakash Ganti, IRP appearing in person admits that respondent No. 1 is the sole creditor of which the CoC is comprised of. He also submits that there are seven financial creditors also but since they are related par- ties they do not qualify to be the members of the CoC. His statement is taken on record. 5. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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