The case pertains to CP(IB) No. 177/9/NCLT/AHM/2018 before the Ahmedabad Bench of the National Company Law Tribunal (NCLT). The Operational Creditor/Petitioner filed an IB petition under Section 9 of the Insolvency and Bankruptcy Code. The Petitioner sought to withdraw the IB petition.
The Operational Creditor/Petitioner initiated an insolvency proceeding against Airen Polyopipes Pvt. Ltd. by filing an IB petition. The Petitioner and the Corporate Debtor reached a settlement where the Petitioner received Rs. 3,50,000/- as full and final settlement of the debt. Subsequently, the Petitioner filed a pursis to withdraw the IB petition based on the settlement. The court noted that the debt account had been closed and the matter was settled between the parties.
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The case pertains to CP(IB) No. 177/9/NCLT/AHM/2018 before the Ahmedabad Bench of the National Company Law Tribunal (NCLT). The Operational Creditor/Petitioner filed an IB petition under Section 9 of the Insolvency and Bankruptcy Code. The Petitioner sought to withdraw the IB petition.
The Operational Creditor/Petitioner initiated an insolvency proceeding against Airen Polyopipes Pvt. Ltd. by filing an IB petition. The Petitioner and the Corporate Debtor reached a settlement where the Petitioner received Rs. 3,50,000/- as full and final settlement of the debt. Subsequently, the Petitioner filed a pursis to withdraw the IB petition based on the settlement. The court noted that the debt account had been closed and the matter was settled between the parties.
The Ahmedabad Bench of the National Company…
Sign in to view related legal provisions.