The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the Operational Creditor, 'Prime Products', against the Corporate Debtor, 'M/s. Eco Rich Cosmetics India Private Limited'. The petition was admitted on 26.04.2018, and Mr. Prabhakar Bhat was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). After the admission, the Operational Creditor and the Debtor engaged in discussions to resolve the disputes, leading to a settlement agreement.
The Operational Creditor, Prime Products, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor, M/s. Eco Rich Cosmetics India Private Limited. The petition was admitted on 26.04.2018. Mr. Prabhakar Bhat was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). After the admission of the petition, the Operational Creditor and the Corporate Debtor entered into discussions and reached a settlement where the Debtor agreed to pay ₹13,00,000/- towards the full and final settlement of outstanding dues. The Operational Creditor accepted a pay order for this amount. The Operational Creditor also deposited a demand draft of ₹3,00,000/- towards the expenses incurred by
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The Petition U/s. 9 of the Insolvency and…
Public Announcement was…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the Operational Creditor, 'Prime Products', against the Corporate Debtor, 'M/s. Eco Rich Cosmetics India Private Limited'. The petition was admitted on 26.04.2018, and Mr. Prabhakar Bhat was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). After the admission, the Operational Creditor and the Debtor engaged in discussions to resolve the disputes, leading to a settlement agreement.
The Operational Creditor, Prime Products, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor, M/s. Eco Rich Cosmetics India Private Limited. The petition was admitted on 26.04.2018. Mr. Prabhakar Bhat was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). After the admission of the petition, the Operational Creditor and the Corporate Debtor entered into discussions and reached a settlement where the Debtor agreed to pay ₹13,00,000/- towards the full and final settlement of outstanding dues. The Operational Creditor accepted a pay order for this amount. The Operational Creditor also deposited a demand draft of ₹3,00,000/- towards the expenses incurred by
…The Petition U/s. 9 of the Insolvency and…
Public Announcement was…