The appellant, Sameer Nagpal, Suspended Director of Vikram Solar Ltd., is challenging an order passed by the NCLT Kolkata-I bench. Previously, the parties had a settlement agreement for Rs. 4,60,49,000/-, out of which Rs. 4,14,00,000/- was paid. An additional Rs. 70 lakhs was paid to the Operational Creditor, who acknowledged a remaining liability of Rs. 91,98,556/- via an email dated 04.02.2023. The appellant is willing to deposit this admitted amount to demonstrate bonafide.
Sameer Nagpal is the Appellant and Suspended Director of Vikram Solar Ltd.
ISITVA Steel Pvt. Ltd. & Anr. are the Respondents.
The parties had previously agreed to a settlement amount of Rs. 4,60,49,000/-.
Rs. 4,14,00,000/- out of the settlement amount was already paid.
An additional Rs. 70 lakhs was paid to the Operational Creditor.
The Operational Creditor acknowledged a remaining liability of Rs. 91,98,556/- via an email dated 04.02.2023.
The appellant is ready to deposit Rs. 91,98,556/- by way of demand draft.
Respondents No.1 & 2 have not objected to the deposition of Rs. 91,98,556/- for full and final settlement.
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Order passed by the appellate tribunal in…
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The appellant, Sameer Nagpal, Suspended Director of Vikram Solar Ltd., is challenging an order passed by the NCLT Kolkata-I bench. Previously, the parties had a settlement agreement for Rs. 4,60,49,000/-, out of which Rs. 4,14,00,000/- was paid. An additional Rs. 70 lakhs was paid to the Operational Creditor, who acknowledged a remaining liability of Rs. 91,98,556/- via an email dated 04.02.2023. The appellant is willing to deposit this admitted amount to demonstrate bonafide.
Sameer Nagpal is the Appellant and Suspended Director of Vikram Solar Ltd.
ISITVA Steel Pvt. Ltd. & Anr. are the Respondents.
The parties had previously agreed to a settlement amount of Rs. 4,60,49,000/-.
Rs. 4,14,00,000/- out of the settlement amount was already paid.
An additional Rs. 70 lakhs was paid to the Operational Creditor.
The Operational Creditor acknowledged a remaining liability of Rs. 91,98,556/- via an email dated 04.02.2023.
The appellant is ready to deposit Rs. 91,98,556/- by way of demand draft.
Respondents No.1 & 2 have not objected to the deposition of Rs. 91,98,556/- for full and final settlement.
…Email sent by the Operational Creditor…
Order passed by the appellate tribunal in…
Sign in to view related legal provisions.