The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench, admitting the application of the Operational Creditor, Manoj Kumar Das (Respondent No. 1), and commencing the Corporate Insolvency Resolution Process (CIRP) against Horizon Dwellings Pvt. Ltd. (Appellant). Subsequently, the Corporate Debtor and the Operational Creditor reached a settlement.
The Adjudicating Authority (National Company Law Tribunal), Allahabad Bench, admitted the application of the Operational Creditor, Manoj Kumar Das, initiating the Corporate Insolvency Resolution Process (CIRP) against Horizon Dwellings Pvt. Ltd. Subsequently, Horizon Dwellings Pvt. Ltd. and Manoj Kumar Das reached a settlement. As part of the settlement, Horizon Dwellings Pvt. Ltd. paid Rs.27,50,000/- to Manoj Kumar Das towards full and final satisfaction of the operational debt. The Operational Creditor's advocate confirmed the settlement. The key fact is the settlement between the parties, leading to the disposal of the appeal.
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The Adjudicating Authority passed the impugned…
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The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench, admitting the application of the Operational Creditor, Manoj Kumar Das (Respondent No. 1), and commencing the Corporate Insolvency Resolution Process (CIRP) against Horizon Dwellings Pvt. Ltd. (Appellant). Subsequently, the Corporate Debtor and the Operational Creditor reached a settlement.
The Adjudicating Authority (National Company Law Tribunal), Allahabad Bench, admitted the application of the Operational Creditor, Manoj Kumar Das, initiating the Corporate Insolvency Resolution Process (CIRP) against Horizon Dwellings Pvt. Ltd. Subsequently, Horizon Dwellings Pvt. Ltd. and Manoj Kumar Das reached a settlement. As part of the settlement, Horizon Dwellings Pvt. Ltd. paid Rs.27,50,000/- to Manoj Kumar Das towards full and final satisfaction of the operational debt. The Operational Creditor's advocate confirmed the settlement. The key fact is the settlement between the parties, leading to the disposal of the appeal.
The Adjudicating Authority passed the impugned…
The Corporate Debtor…
Sign in to view related legal provisions.