The case involves Ambuj Kumar Ratogi as the petitioner and Delta Electro Mechanical Pvt. Ltd. as the respondent. The matter pertains to Sections 8 & 9 of the Insolvency and Bankruptcy Code. The parties have submitted consent terms, and a schedule of payment has been agreed upon. The petitioner has received the first installment of ₹5,00,000 on 17.06.2019 and undertakes to make the rest of the payment as agreed upon.
Ambuj Kumar Ratogi filed a petition against Delta Electro Mechanical Pvt. Ltd. under Sections 8 & 9 of the Insolvency and Bankruptcy Code. Both parties submitted consent terms, agreeing on a payment schedule. The first installment of ₹5,00,000 was received by the petitioner on 17.06.2019. The schedule of payments includes multiple cheques from Oriental Bank of Commerce, totaling ₹25,00,000, with the final payment due by 17.11.2019. The petitioner sought permission to withdraw the petition based on these consent terms. The court granted permission for withdrawal, contingent on the agreed-upon payments being made. Any defiance of the consent terms allows the petitioner to bring the matter before the bench again.
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Consent Term…
First installm…
The case involves Ambuj Kumar Ratogi as the petitioner and Delta Electro Mechanical Pvt. Ltd. as the respondent. The matter pertains to Sections 8 & 9 of the Insolvency and Bankruptcy Code. The parties have submitted consent terms, and a schedule of payment has been agreed upon. The petitioner has received the first installment of ₹5,00,000 on 17.06.2019 and undertakes to make the rest of the payment as agreed upon.
Ambuj Kumar Ratogi filed a petition against Delta Electro Mechanical Pvt. Ltd. under Sections 8 & 9 of the Insolvency and Bankruptcy Code. Both parties submitted consent terms, agreeing on a payment schedule. The first installment of ₹5,00,000 was received by the petitioner on 17.06.2019. The schedule of payments includes multiple cheques from Oriental Bank of Commerce, totaling ₹25,00,000, with the final payment due by 17.11.2019. The petitioner sought permission to withdraw the petition based on these consent terms. The court granted permission for withdrawal, contingent on the agreed-upon payments being made. Any defiance of the consent terms allows the petitioner to bring the matter before the bench again.
Consent Term…
First installm…