Mr. Mukesh Sumermal Sanghvi (Appellant) initiated proceedings under Section 9 of the IBC, 2016, against R. D. Engineer (India) Pvt. Ltd. (Respondent), which were admitted on 26.10.2020. Subsequently, a Settlement Agreement led to the withdrawal of the petition on 16.04.2021, with an express clause allowing for the revival of proceedings upon default in settlement terms. Alleging breach and default in payment, the appellant filed Restoration Application No. 19 of 2025 to revive the Company Petition. The Adjudicating Authority (NCLT, Mumbai Bench) dismissed this Restoration Application via an order dated 21.04.2025, primarily on the ground that it was filed nearly two years after the last installment date under the settlement schedule, without even issuing notice to the
…Mr. Mukesh Sumermal Sanghvi (Appellant) initiated proceedings under Section 9 of the IBC, 2016, against R. D. Engineer (India) Pvt. Ltd. (Respondent).
The IBC proceedings were admitted on 26.10.2020.
A Settlement Agreement was reached between the parties, leading to the withdrawal of the petition on 16.04.2021, with liberty to revive the proceedings upon default of settlement terms (Clauses 18 and 19).
Alleging breach of the settlement and default in payment, the appellant filed Restoration Application No. 19 of 2025 seeking revival of C.P. (IB) No. 925 of 2020.
The Adjudicating Authority (NCLT, Mumbai Bench) dismissed the Restoration Application on 21.04.2025, without issuing notice to the respondent, citing a nearly two-year delay from the last installment date.
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Appellant's proceedings under Section 9 of…
The Company Petition was withdrawn by an…
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Mr. Mukesh Sumermal Sanghvi (Appellant) initiated proceedings under Section 9 of the IBC, 2016, against R. D. Engineer (India) Pvt. Ltd. (Respondent), which were admitted on 26.10.2020. Subsequently, a Settlement Agreement led to the withdrawal of the petition on 16.04.2021, with an express clause allowing for the revival of proceedings upon default in settlement terms. Alleging breach and default in payment, the appellant filed Restoration Application No. 19 of 2025 to revive the Company Petition. The Adjudicating Authority (NCLT, Mumbai Bench) dismissed this Restoration Application via an order dated 21.04.2025, primarily on the ground that it was filed nearly two years after the last installment date under the settlement schedule, without even issuing notice to the
…Mr. Mukesh Sumermal Sanghvi (Appellant) initiated proceedings under Section 9 of the IBC, 2016, against R. D. Engineer (India) Pvt. Ltd. (Respondent).
The IBC proceedings were admitted on 26.10.2020.
A Settlement Agreement was reached between the parties, leading to the withdrawal of the petition on 16.04.2021, with liberty to revive the proceedings upon default of settlement terms (Clauses 18 and 19).
Alleging breach of the settlement and default in payment, the appellant filed Restoration Application No. 19 of 2025 seeking revival of C.P. (IB) No. 925 of 2020.
The Adjudicating Authority (NCLT, Mumbai Bench) dismissed the Restoration Application on 21.04.2025, without issuing notice to the respondent, citing a nearly two-year delay from the last installment date.
…Appellant's proceedings under Section 9 of…
The Company Petition was withdrawn by an…
Sign in to view related legal provisions.