The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, against an order dated 2022-08-11 passed by the National Company Law Tribunal (NCLT), New Delhi, in I.A. No. 3247/ND/2022, which was related to CP No. (IB)-1441(ND)/2018. The Interlocutory application sought to revive/restore CP No. 1441/2018, which had been previously withdrawn by the appellant due to an outside settlement. The NCLT dismissed the I.A. No. 3247/ND/2022.
Bajaj Rubber Company Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) before the NCLT, which was numbered as CP No. 1441/2018, against Saraswati Timber Pvt. Ltd. Before the application was admitted, Bajaj Rubber Company withdrew it based on a settlement with Saraswati Timber. The NCLT allowed the withdrawal and granted liberty to revive the application if the settlement terms were violated. Subsequently, a cheque for Rs. 1,25,000 given by Saraswati Timber was dishonored on 2020-12-24. After a delay of approximately three and a half years, Bajaj Rubber Company filed I.A. No. 3247/ND/2022 to revive the original application. The NCLT dismissed the I.A. The appellant claimed that Rs. 24,00,000 was still outstanding from the
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Bajaj Rubber Company Pvt. Ltd. filed an…
NCLT permitted the withdrawal of CP No.…
The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, against an order dated 2022-08-11 passed by the National Company Law Tribunal (NCLT), New Delhi, in I.A. No. 3247/ND/2022, which was related to CP No. (IB)-1441(ND)/2018. The Interlocutory application sought to revive/restore CP No. 1441/2018, which had been previously withdrawn by the appellant due to an outside settlement. The NCLT dismissed the I.A. No. 3247/ND/2022.
Bajaj Rubber Company Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) before the NCLT, which was numbered as CP No. 1441/2018, against Saraswati Timber Pvt. Ltd. Before the application was admitted, Bajaj Rubber Company withdrew it based on a settlement with Saraswati Timber. The NCLT allowed the withdrawal and granted liberty to revive the application if the settlement terms were violated. Subsequently, a cheque for Rs. 1,25,000 given by Saraswati Timber was dishonored on 2020-12-24. After a delay of approximately three and a half years, Bajaj Rubber Company filed I.A. No. 3247/ND/2022 to revive the original application. The NCLT dismissed the I.A. The appellant claimed that Rs. 24,00,000 was still outstanding from the
…Bajaj Rubber Company Pvt. Ltd. filed an…
NCLT permitted the withdrawal of CP No.…