The appeal was filed against the order dated August 26, 2022, passed by the National Company Law Tribunal, Indore Bench, which admitted a Section 9 application filed by the Operational Creditor under the Insolvency and Bankruptcy Code, 2016. An I.A. No. 3409 of 2022 was filed by the Appellant along with a Settlement Agreement dated 10.09.2022, indicating that the Appellant had settled all dues of the Operational Creditor and made a payment of Rs. 40 Lakhs by Demand Draft.
The National Company Law Tribunal, Indore Bench, admitted a Section 9 application filed by the Operational Creditor under the Insolvency and Bankruptcy Code, 2016. The Appellant filed an appeal against this order. During the appeal process, the Appellant and the Operational Creditor entered into a Settlement Agreement dated 10.09.2022, where the Appellant settled all dues by paying Rs. 40 Lakhs via Demand Draft. The Appellant filed I.A. No. 3409 of 2022 to bring the Settlement Agreement on record. The fee of the IRP as directed by the Adjudicating Authority as Rs. 1 Lakh and the Expenses for Publication shall be paid by the Operational Creditor.
Sign in to view the parties.
National Company Law Tribunal, Indore Bench,…
Settlement Agreement…
The appeal was filed against the order dated August 26, 2022, passed by the National Company Law Tribunal, Indore Bench, which admitted a Section 9 application filed by the Operational Creditor under the Insolvency and Bankruptcy Code, 2016. An I.A. No. 3409 of 2022 was filed by the Appellant along with a Settlement Agreement dated 10.09.2022, indicating that the Appellant had settled all dues of the Operational Creditor and made a payment of Rs. 40 Lakhs by Demand Draft.
The National Company Law Tribunal, Indore Bench, admitted a Section 9 application filed by the Operational Creditor under the Insolvency and Bankruptcy Code, 2016. The Appellant filed an appeal against this order. During the appeal process, the Appellant and the Operational Creditor entered into a Settlement Agreement dated 10.09.2022, where the Appellant settled all dues by paying Rs. 40 Lakhs via Demand Draft. The Appellant filed I.A. No. 3409 of 2022 to bring the Settlement Agreement on record. The fee of the IRP as directed by the Adjudicating Authority as Rs. 1 Lakh and the Expenses for Publication shall be paid by the Operational Creditor.
National Company Law Tribunal, Indore Bench,…
Settlement Agreement…