The case involves an appeal against an order passed by the NCLT, Ahmedabad, regarding an application filed under Section 7 of the Insolvency & Bankruptcy Code, 1908 against Shreeya Peanuts Pvt. Ltd. The NCLT admitted the application and appointed an Interim Resolution Professional (IRP). The appellant challenged this order before the NCLAT.
Respondent No. 1 (Financial Creditor) filed an application under Section 7 of the Insolvency & Bankruptcy Code, 1908 against M/s Shreeya Peanuts Pvt. Ltd. (Corporate Debtor). The NCLT admitted the application on 24.03.2021 and appointed Mr. Sunil Kumar Agarwal as the Interim Resolution Professional (IRP). The Appellant filed an appeal against the NCLT order. During the appeal process, the dispute was resolved amicably, with the Appellant paying Rs. 2,41,00,000/- to Respondent No. 1 as a full and final settlement of unsecured loan/debts. Respondent No. 1 confirmed that they have no outstanding claims against the Corporate Debtor. The IRP and RP also confirmed receipt of their fees and costs. The key fact is the settlement between the parties, leading to the request
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Respondent No. 1 filed an application under…
NCLT, Ahmedabad,…
The case involves an appeal against an order passed by the NCLT, Ahmedabad, regarding an application filed under Section 7 of the Insolvency & Bankruptcy Code, 1908 against Shreeya Peanuts Pvt. Ltd. The NCLT admitted the application and appointed an Interim Resolution Professional (IRP). The appellant challenged this order before the NCLAT.
Respondent No. 1 (Financial Creditor) filed an application under Section 7 of the Insolvency & Bankruptcy Code, 1908 against M/s Shreeya Peanuts Pvt. Ltd. (Corporate Debtor). The NCLT admitted the application on 24.03.2021 and appointed Mr. Sunil Kumar Agarwal as the Interim Resolution Professional (IRP). The Appellant filed an appeal against the NCLT order. During the appeal process, the dispute was resolved amicably, with the Appellant paying Rs. 2,41,00,000/- to Respondent No. 1 as a full and final settlement of unsecured loan/debts. Respondent No. 1 confirmed that they have no outstanding claims against the Corporate Debtor. The IRP and RP also confirmed receipt of their fees and costs. The key fact is the settlement between the parties, leading to the request
…Respondent No. 1 filed an application under…
NCLT, Ahmedabad,…