S.N. Global Minerals LLP, an Operational Creditor, filed a Restoration Application under Rule 11 of NCLT Rules, 2016, seeking to revive CP (IB) No. 165 of 2024, which was initially admitted but later set aside by NCLAT due to a settlement agreement.
S.N. Global Minerals LLP filed a Section 9 application on 02.05.2024 seeking initiation of CIRP against Aksa Paper Mills Private Limited.
A Settlement Agreement dated 24.08.2024 was executed between the parties, where Aksa Paper Mills agreed to pay Rs. 2,69,38,653/- in installments.
The NCLT admitted the Section 9 petition on 29.08.2024, but NCLAT set aside the admission order on 03.09.2024 due to the Settlement Agreement, granting liberty to the Operational Creditor to revive the petition in case of breach.
Aksa Paper Mills paid Rs. 2,30,00,000/- against the settlement amount, leaving a balance of Rs. 39,38,653/- unpaid.
S.N. Global Minerals LLP filed a Restoration Application to revive CP (IB) No. 165 of 2024 due to the breach of the Settlement Agreement.
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S.N. Global Minerals LLP filed a Section 9…
A Settlement Agreement was executed between S.N.…
S.N. Global Minerals LLP, an Operational Creditor, filed a Restoration Application under Rule 11 of NCLT Rules, 2016, seeking to revive CP (IB) No. 165 of 2024, which was initially admitted but later set aside by NCLAT due to a settlement agreement.
S.N. Global Minerals LLP filed a Section 9 application on 02.05.2024 seeking initiation of CIRP against Aksa Paper Mills Private Limited.
A Settlement Agreement dated 24.08.2024 was executed between the parties, where Aksa Paper Mills agreed to pay Rs. 2,69,38,653/- in installments.
The NCLT admitted the Section 9 petition on 29.08.2024, but NCLAT set aside the admission order on 03.09.2024 due to the Settlement Agreement, granting liberty to the Operational Creditor to revive the petition in case of breach.
Aksa Paper Mills paid Rs. 2,30,00,000/- against the settlement amount, leaving a balance of Rs. 39,38,653/- unpaid.
S.N. Global Minerals LLP filed a Restoration Application to revive CP (IB) No. 165 of 2024 due to the breach of the Settlement Agreement.
…S.N. Global Minerals LLP filed a Section 9…
A Settlement Agreement was executed between S.N.…