The case involves an appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('I&B Code') filed by MTU Maintenance Berline-Brandenburg GmbH & Anr. against LEPL Projects Limited ('Corporate Debtor'). The application was admitted by the Adjudicating Authority (National Company Law Tribunal), Amaravati Bench on 14th November, 2019. The appellant intended to settle the matter with the respondent.
MTU Maintenance Berline-Brandenburg GmbH & Anr. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against LEPL Projects Limited ('Corporate Debtor'). The Adjudicating Authority admitted the application on November 14, 2019. The Appellant expressed intention to settle the matter with MTU Maintenance Berline-Brandenburg GmbH. The 'Committee of Creditors' was not constituted. The Appellant filed an additional affidavit enclosing a Settlement Agreement dated December 10, 2019. MTU Maintenance Berline-Brandenburg GmbH accepted that settlement has been reached and total payments have been made. The 'Interim Resolution Professional' incurred costs, including payments to a lawyer. The Appellant was directed to reimburse Rs.5 lacs to MTU
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The Adjudicating Authority (National Company…
Learned Counsel for the Appellant argued the…
The case involves an appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('I&B Code') filed by MTU Maintenance Berline-Brandenburg GmbH & Anr. against LEPL Projects Limited ('Corporate Debtor'). The application was admitted by the Adjudicating Authority (National Company Law Tribunal), Amaravati Bench on 14th November, 2019. The appellant intended to settle the matter with the respondent.
MTU Maintenance Berline-Brandenburg GmbH & Anr. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against LEPL Projects Limited ('Corporate Debtor'). The Adjudicating Authority admitted the application on November 14, 2019. The Appellant expressed intention to settle the matter with MTU Maintenance Berline-Brandenburg GmbH. The 'Committee of Creditors' was not constituted. The Appellant filed an additional affidavit enclosing a Settlement Agreement dated December 10, 2019. MTU Maintenance Berline-Brandenburg GmbH accepted that settlement has been reached and total payments have been made. The 'Interim Resolution Professional' incurred costs, including payments to a lawyer. The Appellant was directed to reimburse Rs.5 lacs to MTU
…The Adjudicating Authority (National Company…
Learned Counsel for the Appellant argued the…