The case involves two company appeals, No. 597 of 2020 and No. 1012 of 2020, both related to insolvency. The Corporate Debtor offered to settle its claim for Rs. 16.50 crores, which was examined by Respondent No. 2. An affidavit was filed stating that the settlement amount was received, and both parties agreed to withdraw all legal proceedings. The compromise proposal/letter dated 24.2.2021 incorporated the settlement terms.
HEC Infra Projects Ltd filed an appeal against Jyoti Ltd. Rahul Amin, the suspended director of Jyoti Ltd, also filed an appeal against Jyoti Ltd & Ors. The Corporate Debtor offered to settle its claim for Rs. 16.50 crores. Respondent No. 2 examined the offer. An affidavit was filed confirming the receipt of the settlement amount of Rs. 16.50 crores. Both parties agreed to withdraw all legal proceedings filed against each other. The compromise proposal/letter was dated 24.2.2021. The financial creditors' claims were satisfied. The court allowed the appeal to be withdrawn. The proceeding pending before the Adjudicating Authority was ordered to be closed. The Corporate Debtor was released from the rigour of CIRP. Company Appeal (AT)(Insolvency) no.597/2020 was
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Compromise proposal/lett…
In Company Appeal (AT) (Insolvency) No.1012/2020…
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The case involves two company appeals, No. 597 of 2020 and No. 1012 of 2020, both related to insolvency. The Corporate Debtor offered to settle its claim for Rs. 16.50 crores, which was examined by Respondent No. 2. An affidavit was filed stating that the settlement amount was received, and both parties agreed to withdraw all legal proceedings. The compromise proposal/letter dated 24.2.2021 incorporated the settlement terms.
HEC Infra Projects Ltd filed an appeal against Jyoti Ltd. Rahul Amin, the suspended director of Jyoti Ltd, also filed an appeal against Jyoti Ltd & Ors. The Corporate Debtor offered to settle its claim for Rs. 16.50 crores. Respondent No. 2 examined the offer. An affidavit was filed confirming the receipt of the settlement amount of Rs. 16.50 crores. Both parties agreed to withdraw all legal proceedings filed against each other. The compromise proposal/letter was dated 24.2.2021. The financial creditors' claims were satisfied. The court allowed the appeal to be withdrawn. The proceeding pending before the Adjudicating Authority was ordered to be closed. The Corporate Debtor was released from the rigour of CIRP. Company Appeal (AT)(Insolvency) no.597/2020 was
…Compromise proposal/lett…
In Company Appeal (AT) (Insolvency) No.1012/2020…
Sign in to view related legal provisions.