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Jun 19, 2019

NCLAT Dismisses an Appeal on Account of Settlement Between the Parties

On May 17, 2019, National Company Law Appellate Tribunal (‘NCLAT’) dismissed an appeal filed by Mr. Ranjit Singh Gujral (‘Appellant’) against a CCI order[1], dismissing the allegations of violation of Section 3 and 4 of the Act made by the Appellant against Vatika Limited (‘Vatika’) and Confederation of Real Estate Developers’ Associations of India (‘CREDAI’). The Appellant decided to withdraw the appeal due to an out-of-court settlement with Vatika and CREDAI. Therefore, NCLAT decided to dismiss the appeal. However, the dismissal order did not record the terms of settlement. [2]

[1] Case No. 23 of 2018 [2] Competition Appeal (AT) No. 01of 2019

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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