The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The learned counsels for both the Operational Creditor and the Corporate Debtor appeared before the National Company Law Tribunal (NCLT), Hyderabad.
The case involves Aliens Developers Pvt Ltd as the Corporate Debtor. Sudhakar B Vadapalli is the petitioner, and Aliens Developers Pvt Ltd is also listed as the respondent. The petition was filed under Section 7 of the IBC. Both parties' counsels submitted that the matter is settled and sought to file a joint memo of settlement. The court recorded the statement from the Operational Creditor's counsel that the matter is settled and granted permission to withdraw the petition. The matter was withdrawn with the liberty to revive the petition if the settlement fails.
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The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The learned counsels for both the Operational Creditor and the Corporate Debtor appeared before the National Company Law Tribunal (NCLT), Hyderabad.
The case involves Aliens Developers Pvt Ltd as the Corporate Debtor. Sudhakar B Vadapalli is the petitioner, and Aliens Developers Pvt Ltd is also listed as the respondent. The petition was filed under Section 7 of the IBC. Both parties' counsels submitted that the matter is settled and sought to file a joint memo of settlement. The court recorded the statement from the Operational Creditor's counsel that the matter is settled and granted permission to withdraw the petition. The matter was withdrawn with the liberty to revive the petition if the settlement fails.
Hearing held on…
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