The case involves a petition under the Insolvency and Bankruptcy Code (IBC). The counsel for both the petitioner and the corporate debtor were present. The petitioner sought to withdraw the petition based on a settlement reached between the parties.
The petitioner, Dulichand Jain, filed a petition against Colorhome Developers Pvt Ltd under the IBC. During the hearing, the counsel for both the petitioner and the corporate debtor were present. The petitioner's counsel stated that a settlement had been reached between the parties, and as a result, the petitioner wished to withdraw the petition. The court considered this representation and the relevant rules before dismissing the petition.
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Hearing held at 10:30…
The petition was…
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The case involves a petition under the Insolvency and Bankruptcy Code (IBC). The counsel for both the petitioner and the corporate debtor were present. The petitioner sought to withdraw the petition based on a settlement reached between the parties.
The petitioner, Dulichand Jain, filed a petition against Colorhome Developers Pvt Ltd under the IBC. During the hearing, the counsel for both the petitioner and the corporate debtor were present. The petitioner's counsel stated that a settlement had been reached between the parties, and as a result, the petitioner wished to withdraw the petition. The court considered this representation and the relevant rules before dismissing the petition.
Hearing held at 10:30…
The petition was…
Sign in to view related legal provisions.