CA No.821/2020 was filed in IB-1350/2019. The Operational Creditor filed the C.A. to withdraw the same on the ground that the matter has been settled between the parties. An agreement was signed on January 24, 2020, and a payment of Rs.8,55,000/- was made, constituting a full and final settlement. The Resolution Professional submitted that the publication has not been made in the Newspapers but it is up-loaded on the IBBI Website. He further submitted that he has incurred the expenses which is agreed to be paid by the Corporate Debtor.
Khandelwal Group (P) Ltd filed an application against Auctus Town Planner (P) Ltd under Section 9 of the IBC, 2016. The parties reached a settlement, signing an agreement on January 24, 2020, with a payment of Rs.8,55,000/- made as full and final settlement. The Resolution Professional submitted that the public announcement was not published in newspapers but was uploaded on the IBBI website. The Corporate Debtor agreed to pay the expenses incurred by the Resolution Professional. The court recalled its earlier order, lifted the moratorium, and dismissed the company petition as withdrawn.
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Order pass…
Agreement signed…
CA No.821/2020 was filed in IB-1350/2019. The Operational Creditor filed the C.A. to withdraw the same on the ground that the matter has been settled between the parties. An agreement was signed on January 24, 2020, and a payment of Rs.8,55,000/- was made, constituting a full and final settlement. The Resolution Professional submitted that the publication has not been made in the Newspapers but it is up-loaded on the IBBI Website. He further submitted that he has incurred the expenses which is agreed to be paid by the Corporate Debtor.
Khandelwal Group (P) Ltd filed an application against Auctus Town Planner (P) Ltd under Section 9 of the IBC, 2016. The parties reached a settlement, signing an agreement on January 24, 2020, with a payment of Rs.8,55,000/- made as full and final settlement. The Resolution Professional submitted that the public announcement was not published in newspapers but was uploaded on the IBBI website. The Corporate Debtor agreed to pay the expenses incurred by the Resolution Professional. The court recalled its earlier order, lifted the moratorium, and dismissed the company petition as withdrawn.
Order pass…
Agreement signed…