Case Details
Case Name: Comp. App. (AT) (Ins) No. 2248 of 2024 & I.A. No. 3904 of 2025
Parties: Oxyzo Financial Services Pvt. Ltd. (Appellant) versus KLD Creation Infrastructure Pvt. Ltd. (Respondent)
Court/Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Date of Order: 22.05.2026
Presiding Members: Justice Mohammad Faiz Alam Khan (Member-Judicial) and Indevar Pandey (Member-Technical)
Parties Involved
Appellant: Oxyzo Financial Services Pvt. Ltd., represented by advocates Mr. Sarwar Raza and Ms. Shreya Kumar
Respondent: KLD Creation Infrastructure Pvt. Ltd. (no representation noted in order)
Issues / Allegations / Violations
The order does not specify the nature of the underlying insolvency dispute or violations that led to the original appeal. The document focuses solely on the procedural aspect of settlement between the parties.
Findings & Observations
The Tribunal perused the settlement deed available on record and noted the submission made by the appellant's counsel regarding the mutual settlement reached between the parties.
Penalties / Settlements / Directions
The appeal was dismissed as withdrawn based on the settlement agreement between the parties. The appellant was granted specific liberty to revive the appeal if the respondent (KLD Creation Infrastructure Pvt. Ltd.) fails to honor the terms of the settlement.
Corrective Actions & Future Obligations
The respondent is obligated to honor the terms of the settlement agreement. Failure to do so would allow the appellant to revive the appeal before the NCLAT.
Final Ruling & Enforcement
The National Company Law Appellate Tribunal dismissed the appeal as withdrawn with liberty to revive if settlement terms are not honored by the respondent. The order is immediately effective.