Vinay Kumar Mangalam filed an appeal against the admission of an application under Section 7 of the Insolvency & Bankruptcy Code, 2016. The application was filed by Punjab National Bank against M/s. Chotanagpur Roadlines Pvt. Ltd. The Appellant expressed a desire to settle the matter. Punjab National Bank is the sole creditor with 100% voting share. The Appellant had not yet approached the Committee of Creditors for settlement. The court adjourned the matter to allow the Appellant to pursue settlement negotiations with the Committee of Creditors. The court allowed the Appellant to move before the 'Committee of Creditors' by filing terms of settlement in terms of Section 12A of the 'I&B' Code.

Vinay Kumar Mangalam filed an appeal against the admission of an application under Section 7 of the Insolvency & Bankruptcy Code, 2016. The application was filed by Punjab National Bank against M/s. Chotanagpur Roadlines Pvt. Ltd. The Appellant expressed a desire to settle the matter. Punjab National Bank is the sole creditor with 100% voting share. The Appellant had not yet approached the Committee of Creditors for settlement. The court adjourned the matter to allow the Appellant to pursue settlement negotiations with the Committee of Creditors. The court allowed the Appellant to move before the 'Committee of Creditors' by filing terms of settlement in terms of Section 12A of the 'I&B' Code.