The case involves an appeal filed by Container Corporation of India Ltd. (CONCOR) against Roadwings International Pvt. Ltd. & Anr. The appeal pertains to an Interlocutory Application (I.A. No. 4590 of 2024) seeking to allow the appeal based on a settlement reached between the parties. The settlement was allegedly made in view of the Government of India's 'Vivad se Vishwas-II' scheme. The respondent had initiated insolvency proceedings under Section 9 of the Insolvency & Bankruptcy Code, 2016, which were admitted by the Tribunal. This order was challenged by the appellant.
Container Corporation of India Ltd. (CONCOR) filed an appeal against Roadwings International Pvt. Ltd. & Anr. The appeal concerns an Interlocutory Application (I.A. No. 4590 of 2024) to allow the appeal based on a settlement under the 'Vivad se Vishwas-II' scheme. Roadwings International Pvt. Ltd. initiated insolvency proceedings under Section 9 of the Insolvency & Bankruptcy Code, 2016, which were admitted by the Tribunal on 12.07.2023. CONCOR challenged this order. CONCOR made a counter offer of Rs. 38,04,84,291.85/-, which Roadwings International Pvt. Ltd. accepted. Roadwings International Pvt. Ltd. also filed an affidavit admitting the settlement. The operational creditor filed its claims under the scheme on 31.08.2023 amounting to Rs. 67,24,23,278/- under
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The Tribunal admitted the application filed…
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The case involves an appeal filed by Container Corporation of India Ltd. (CONCOR) against Roadwings International Pvt. Ltd. & Anr. The appeal pertains to an Interlocutory Application (I.A. No. 4590 of 2024) seeking to allow the appeal based on a settlement reached between the parties. The settlement was allegedly made in view of the Government of India's 'Vivad se Vishwas-II' scheme. The respondent had initiated insolvency proceedings under Section 9 of the Insolvency & Bankruptcy Code, 2016, which were admitted by the Tribunal. This order was challenged by the appellant.
Container Corporation of India Ltd. (CONCOR) filed an appeal against Roadwings International Pvt. Ltd. & Anr. The appeal concerns an Interlocutory Application (I.A. No. 4590 of 2024) to allow the appeal based on a settlement under the 'Vivad se Vishwas-II' scheme. Roadwings International Pvt. Ltd. initiated insolvency proceedings under Section 9 of the Insolvency & Bankruptcy Code, 2016, which were admitted by the Tribunal on 12.07.2023. CONCOR challenged this order. CONCOR made a counter offer of Rs. 38,04,84,291.85/-, which Roadwings International Pvt. Ltd. accepted. Roadwings International Pvt. Ltd. also filed an affidavit admitting the settlement. The operational creditor filed its claims under the scheme on 31.08.2023 amounting to Rs. 67,24,23,278/- under
…The Tribunal admitted the application filed…
An order was passed stating that the order…