A joint application was filed by both parties seeking withdrawal of the present I&B petition, stating that a settlement had been reached between the parties. The applicant also sought the liberty to file a fresh I&B petition if the terms of the settlement were not complied with.
A joint application was filed by both parties seeking the withdrawal of the present I&B petition, CP No.(IB)364/ALD/2018. The application stated that a settlement had been reached between the parties. The applicant also requested the liberty to file a fresh I&B petition if the terms of the settlement were not complied with. The court allowed the joint application, dismissing the I&B petition as withdrawn. The court clarified that the dismissal would not operate as res judicata, preserving the parties' rights to pursue legal remedies. Mansumyer Singh, Advocate for the Financial Creditor, and Adarsh Bhushan, Advocate for the Corporate Debtor, were present.
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Order sheet of the…
A joint application was filed by both parties seeking withdrawal of the present I&B petition, stating that a settlement had been reached between the parties. The applicant also sought the liberty to file a fresh I&B petition if the terms of the settlement were not complied with.
A joint application was filed by both parties seeking the withdrawal of the present I&B petition, CP No.(IB)364/ALD/2018. The application stated that a settlement had been reached between the parties. The applicant also requested the liberty to file a fresh I&B petition if the terms of the settlement were not complied with. The court allowed the joint application, dismissing the I&B petition as withdrawn. The court clarified that the dismissal would not operate as res judicata, preserving the parties' rights to pursue legal remedies. Mansumyer Singh, Advocate for the Financial Creditor, and Adarsh Bhushan, Advocate for the Corporate Debtor, were present.
Order sheet of the…