The case pertains to an application filed under Section 35(n) of the Insolvency & Bankruptcy Code, 2016, seeking withdrawal of an application filed under Section 9 of the IB Code, 2016, in the matter of IB-3078/ND/2019, due to a settlement.
Newgen Speciality Plastics Ltd, the operational creditor, initiated insolvency proceedings against Akanksha Plastics (P) Ltd, the corporate debtor, under Section 9 of the IBC, 2016. An application was filed under Section 35(n) of the IBC, 2016, seeking withdrawal of the initial application due to a settlement reached between the parties. The application for withdrawal pertains to the matter of IB-3078/ND/2019. The applicant's submissions and averments were considered by the court.
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Order delivered on the…
The case pertains to an application filed under Section 35(n) of the Insolvency & Bankruptcy Code, 2016, seeking withdrawal of an application filed under Section 9 of the IB Code, 2016, in the matter of IB-3078/ND/2019, due to a settlement.
Newgen Speciality Plastics Ltd, the operational creditor, initiated insolvency proceedings against Akanksha Plastics (P) Ltd, the corporate debtor, under Section 9 of the IBC, 2016. An application was filed under Section 35(n) of the IBC, 2016, seeking withdrawal of the initial application due to a settlement reached between the parties. The application for withdrawal pertains to the matter of IB-3078/ND/2019. The applicant's submissions and averments were considered by the court.
Order delivered on the…