The appeal was filed by the shareholder of the Corporate Debtor against an order admitting an application under Section 9 of the IBC. The parties subsequently reached a settlement, leading to the current application for withdrawal of the appeal and the original Section 9 petition.
Edwell Infrastructure Hazira Ltd., the shareholder of Arkay Logistics Limited (Corporate Debtor), filed an appeal against an order dated August 29, 2019, passed by the Adjudicating Authority (NCLT, Mumbai Bench). This order admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Siddhi Vinayak Logistics Ltd. (Operational Creditor) for initiating Corporate Insolvency Resolution Process (CIRP) against Arkay Logistics Limited. Siddhi Vinayak Logistics Ltd. itself was undergoing CIRP and filed the application through its Liquidator.
…Adjudicating Authority (NCLT, Mumbai Bench)…
NCLAT issued notice and an interim order…
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The appeal was filed by the shareholder of the Corporate Debtor against an order admitting an application under Section 9 of the IBC. The parties subsequently reached a settlement, leading to the current application for withdrawal of the appeal and the original Section 9 petition.
Edwell Infrastructure Hazira Ltd., the shareholder of Arkay Logistics Limited (Corporate Debtor), filed an appeal against an order dated August 29, 2019, passed by the Adjudicating Authority (NCLT, Mumbai Bench). This order admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Siddhi Vinayak Logistics Ltd. (Operational Creditor) for initiating Corporate Insolvency Resolution Process (CIRP) against Arkay Logistics Limited. Siddhi Vinayak Logistics Ltd. itself was undergoing CIRP and filed the application through its Liquidator.
…Adjudicating Authority (NCLT, Mumbai Bench)…
NCLAT issued notice and an interim order…
Sign in to view related legal provisions.