The case involves an appeal against an order related to an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) filed by Blue Star Limited (‘Operational Creditor') against M/s Westwind Engineers Private Limited (‘Corporate Debtor'). The application was admitted on December 4, 2018. The appeal was preferred by Mr. Tapan Basu Roy, Director of M/s Westwind Engineers Private Limited. During the proceedings, the parties informed the court that a settlement had been reached before the constitution of the Committee of Creditors.
Blue Star Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Westwind Engineers Private Limited, the Corporate Debtor. The application was admitted on December 4, 2018. Tapan Basu Roy, Director of Westwind Engineers Private Limited, filed an appeal. During the proceedings on July 2, 2019, the parties informed the court that they had reached a settlement before the constitution of the Committee of Creditors. The terms of the settlement were presented to the court. The Resolution Professional's counsel stated that the Committee of Creditors had not yet been constituted and that the Resolution Professional had incurred costs of Rs.3,50,000. The Corporate Debtor agreed to pay the Resolution
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The case involves an appeal against an order related to an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) filed by Blue Star Limited (‘Operational Creditor') against M/s Westwind Engineers Private Limited (‘Corporate Debtor'). The application was admitted on December 4, 2018. The appeal was preferred by Mr. Tapan Basu Roy, Director of M/s Westwind Engineers Private Limited. During the proceedings, the parties informed the court that a settlement had been reached before the constitution of the Committee of Creditors.
Blue Star Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Westwind Engineers Private Limited, the Corporate Debtor. The application was admitted on December 4, 2018. Tapan Basu Roy, Director of Westwind Engineers Private Limited, filed an appeal. During the proceedings on July 2, 2019, the parties informed the court that they had reached a settlement before the constitution of the Committee of Creditors. The terms of the settlement were presented to the court. The Resolution Professional's counsel stated that the Committee of Creditors had not yet been constituted and that the Resolution Professional had incurred costs of Rs.3,50,000. The Corporate Debtor agreed to pay the Resolution
…Date of the impugned…
Parties reached a…