The case pertains to a petition filed by Anant Pre-Fab, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Aerospace Processing India Private Limited, the Corporate Debtor. The basis for the petition was the Corporate Debtor's alleged default of Rs. 13,90,188/- along with interest at 24% as on 31.03.2018.
Anant Pre-Fab, an Operational Creditor, filed a petition under Section 9 of the IBC against Aerospace Processing India Private Limited, the Corporate Debtor, due to a default of Rs. 13,90,188/- plus interest. The case was listed for admission on several dates, suggesting ongoing discussions or attempts at resolution. The Operational Creditor and Corporate Debtor reached a settlement, with the Corporate Debtor paying Rs. 1,99,491 to the Operational Creditor. As a result of the settlement, the Operational Creditor filed a Memo for Withdrawal, confirming that the payment constituted a full and final settlement of all alleged dues. The relevance of the settlement is that it allowed the Corporate Debtor to avoid the CIRP process and resolved the dispute with the Operational
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The case pertains to a petition filed by Anant Pre-Fab, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Aerospace Processing India Private Limited, the Corporate Debtor. The basis for the petition was the Corporate Debtor's alleged default of Rs. 13,90,188/- along with interest at 24% as on 31.03.2018.
Anant Pre-Fab, an Operational Creditor, filed a petition under Section 9 of the IBC against Aerospace Processing India Private Limited, the Corporate Debtor, due to a default of Rs. 13,90,188/- plus interest. The case was listed for admission on several dates, suggesting ongoing discussions or attempts at resolution. The Operational Creditor and Corporate Debtor reached a settlement, with the Corporate Debtor paying Rs. 1,99,491 to the Operational Creditor. As a result of the settlement, the Operational Creditor filed a Memo for Withdrawal, confirming that the payment constituted a full and final settlement of all alleged dues. The relevance of the settlement is that it allowed the Corporate Debtor to avoid the CIRP process and resolved the dispute with the Operational
…The Corporate Debtor allegedly defaulted on a…
The case was i…
Sign in to view related legal provisions.