The appeal was filed against the order dated 15th March, 2023, passed by the Adjudicating Authority, which admitted the application under Section 9 of the I&B Code, 2016, filed by the Operational Creditor. The Appellant, Ex-Director of the Corporate Debtor, filed this appeal.
The appeal was filed against the order of admission of application under Section 9 of the I&B Code.
A settlement agreement was reached between the appellant and the operational creditor.
The dues of the operational creditor were settled for Rs. 1,07,33,948/-.
Demand Drafts for Rs. 80 Lakhs were handed over to the operational creditor.
The appellant was directed to pay the IRP fee of Rs. 1 Lakh plus expenses.
The Corporate Insolvency Resolution Process (CIRP) was terminated due to the settlement.
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Order passed by the Adjudicating Authority…
Settlement Agreement…
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The appeal was filed against the order dated 15th March, 2023, passed by the Adjudicating Authority, which admitted the application under Section 9 of the I&B Code, 2016, filed by the Operational Creditor. The Appellant, Ex-Director of the Corporate Debtor, filed this appeal.
The appeal was filed against the order of admission of application under Section 9 of the I&B Code.
A settlement agreement was reached between the appellant and the operational creditor.
The dues of the operational creditor were settled for Rs. 1,07,33,948/-.
Demand Drafts for Rs. 80 Lakhs were handed over to the operational creditor.
The appellant was directed to pay the IRP fee of Rs. 1 Lakh plus expenses.
The Corporate Insolvency Resolution Process (CIRP) was terminated due to the settlement.
Order passed by the Adjudicating Authority…
Settlement Agreement…
Sign in to view related legal provisions.