The case involves an application (MA/609/2018) filed in CP/645/IB/2018 by the Resolution Professional, Mr. Raghuram, under Section 12 (A) of the IBC, 2016, seeking orders to consider the withdrawal of the application filed by the Operational Creditor. A 'Deed of Compromise' was entered into between the Operational Creditor and one of the Directors of the Corporate Debtor to settle outstanding dues. The Resolution Professional submitted the Minutes of the Proceedings of the 3rd meeting of the Committee of Creditors, where it was resolved with 100% voting rights to file an application for settlement under Section 12A of the IBC, 2016, for withdrawal of the pending case.
Raghuram, the Resolution Professional, filed MA/609/2018 in CP/645/IB/2018 under Section 12(A) of the IBC, 2016, seeking withdrawal of the application filed by the Operational Creditor. A 'Deed of Compromise' was executed on 26.10.2018 between the Operational Creditor and a Director of the Corporate Debtor to settle outstanding dues of Rs. 25 lakhs. Rs. 15 lakhs was paid on 22.10.2018 via Cheque No. 052652 drawn on SVC Co-operative Bank Ltd., Chennai, in favor of Godrej Tyson Foods Limited (Operational Creditor). The remaining amount was paid via Cheque No. 052653 dated 22.11.2018. The Committee of Creditors, in its 3rd meeting on 26.10.2018, resolved with 100% voting rights to file an application for settlement under Section 12A of the IBC, 2016. The original order
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Original order…
Rs. 15 lakhs paid to…
The case involves an application (MA/609/2018) filed in CP/645/IB/2018 by the Resolution Professional, Mr. Raghuram, under Section 12 (A) of the IBC, 2016, seeking orders to consider the withdrawal of the application filed by the Operational Creditor. A 'Deed of Compromise' was entered into between the Operational Creditor and one of the Directors of the Corporate Debtor to settle outstanding dues. The Resolution Professional submitted the Minutes of the Proceedings of the 3rd meeting of the Committee of Creditors, where it was resolved with 100% voting rights to file an application for settlement under Section 12A of the IBC, 2016, for withdrawal of the pending case.
Raghuram, the Resolution Professional, filed MA/609/2018 in CP/645/IB/2018 under Section 12(A) of the IBC, 2016, seeking withdrawal of the application filed by the Operational Creditor. A 'Deed of Compromise' was executed on 26.10.2018 between the Operational Creditor and a Director of the Corporate Debtor to settle outstanding dues of Rs. 25 lakhs. Rs. 15 lakhs was paid on 22.10.2018 via Cheque No. 052652 drawn on SVC Co-operative Bank Ltd., Chennai, in favor of Godrej Tyson Foods Limited (Operational Creditor). The remaining amount was paid via Cheque No. 052653 dated 22.11.2018. The Committee of Creditors, in its 3rd meeting on 26.10.2018, resolved with 100% voting rights to file an application for settlement under Section 12A of the IBC, 2016. The original order
…Original order…
Rs. 15 lakhs paid to…