Savino Del Bene Freight Forwarders India Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Olive Tree Trading Private Limited (Corporate Debtor) by an order dated September 17, 2019. The appellant, a shareholder of the Corporate Debtor, agreed to pay the default amount and settle the matter, as the Committee of Creditors had not yet been constituted.
Savino Del Bene Freight Forwarders India Pvt. Ltd. (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against Olive Tree Trading Private Limited (Corporate Debtor) by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, admitted the application on September 17, 2019. Sujeet Suresh Shah, a shareholder of the Corporate Debtor, filed an appeal against the initiation of CIRP. During the appeal proceedings, the Appellant agreed to pay the default amount to settle the matter. The Committee of Creditors had not been constituted at the time of the settlement. The Appellant made an undertaking to pay Rs.5,06,051/- by December 31, 2019,
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The Adjudicating Authority (National Company…
Appellant in its affidavit dated 20th December,…
Savino Del Bene Freight Forwarders India Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Olive Tree Trading Private Limited (Corporate Debtor) by an order dated September 17, 2019. The appellant, a shareholder of the Corporate Debtor, agreed to pay the default amount and settle the matter, as the Committee of Creditors had not yet been constituted.
Savino Del Bene Freight Forwarders India Pvt. Ltd. (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against Olive Tree Trading Private Limited (Corporate Debtor) by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, admitted the application on September 17, 2019. Sujeet Suresh Shah, a shareholder of the Corporate Debtor, filed an appeal against the initiation of CIRP. During the appeal proceedings, the Appellant agreed to pay the default amount to settle the matter. The Committee of Creditors had not been constituted at the time of the settlement. The Appellant made an undertaking to pay Rs.5,06,051/- by December 31, 2019,
…The Adjudicating Authority (National Company…
Appellant in its affidavit dated 20th December,…