This is a Company Appeal (AT) (Insolvency) No. 767 of 2025. The appellant's counsel submits that before the order of 08.05.2025 admitting the Section 7 application, a memorandum of settlement was entered between the financial creditor and the corporate debtor on 07.02.2025. The corporate debtor is an LLP with 3 partners, 2 of whom have signed with 97%. The financial creditor insists the third partner, with another entity part of the LLP, must also sign, preventing the Settlement Agreement from being placed before the adjudicating authority.
Mehul Harish Gosar is the appellant in this case against Athena Constructions Ltd. & Anr., the respondents. A Section 7 application was filed by the financial creditor. Prior to the order admitting the application on 08.05.2025, a memorandum of settlement was entered into between the financial creditor and the corporate debtor on 07.02.2025. The corporate debtor is an LLP with three partners. Two partners, representing 97% ownership, have signed the settlement. The financial creditor insists that the third partner, who has another entity that is part of the LLP, must also sign. The financial creditor has signed and accepted the terms of settlement where area of 2,500 sq. ft. of carpet area in the sale building was allotted and further in addition to the above, Rs.
…Sign in to view the parties.
A memorandum of settlement was entered between…
Order passed admitting…
This is a Company Appeal (AT) (Insolvency) No. 767 of 2025. The appellant's counsel submits that before the order of 08.05.2025 admitting the Section 7 application, a memorandum of settlement was entered between the financial creditor and the corporate debtor on 07.02.2025. The corporate debtor is an LLP with 3 partners, 2 of whom have signed with 97%. The financial creditor insists the third partner, with another entity part of the LLP, must also sign, preventing the Settlement Agreement from being placed before the adjudicating authority.
Mehul Harish Gosar is the appellant in this case against Athena Constructions Ltd. & Anr., the respondents. A Section 7 application was filed by the financial creditor. Prior to the order admitting the application on 08.05.2025, a memorandum of settlement was entered into between the financial creditor and the corporate debtor on 07.02.2025. The corporate debtor is an LLP with three partners. Two partners, representing 97% ownership, have signed the settlement. The financial creditor insists that the third partner, who has another entity that is part of the LLP, must also sign. The financial creditor has signed and accepted the terms of settlement where area of 2,500 sq. ft. of carpet area in the sale building was allotted and further in addition to the above, Rs.
…A memorandum of settlement was entered between…
Order passed admitting…