The case involves a Transfer Company Petition No. 748 of 2017 filed by Ercon Composites against Hamon Shriram Cottrell Pvt. Ltd. before the National Company Law Tribunal (NCLT), Mumbai Bench. The petitioner had initially filed the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. Subsequently, both parties decided to amicably settle the dispute out of court.
Ercon Composites filed a Transfer Company Petition No. 748 of 2017 against Hamon Shriram Cottrell Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. The parties then negotiated and agreed to settle the dispute out of court. As part of the settlement, Hamon Shriram Cottrell Pvt. Ltd. agreed to pay Ercon Composites a sum of Rs. 7,49,351 in installments through post-dated cheques. A withdrawal memo and consent terms were filed with the NCLT, Mumbai Bench. The consent terms specified that upon receipt of the entire settlement amount, Ercon Composites would not initiate any further proceedings against Hamon Shriram Cottrell Pvt. Ltd. The consent terms also stated that if the cheques were dishonored, the original petition would be revived. The petitioner
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Board of Directors of Hamon Shriram…
First post-dated cheque of Rs. 1,49,870 issued…
The case involves a Transfer Company Petition No. 748 of 2017 filed by Ercon Composites against Hamon Shriram Cottrell Pvt. Ltd. before the National Company Law Tribunal (NCLT), Mumbai Bench. The petitioner had initially filed the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. Subsequently, both parties decided to amicably settle the dispute out of court.
Ercon Composites filed a Transfer Company Petition No. 748 of 2017 against Hamon Shriram Cottrell Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. The parties then negotiated and agreed to settle the dispute out of court. As part of the settlement, Hamon Shriram Cottrell Pvt. Ltd. agreed to pay Ercon Composites a sum of Rs. 7,49,351 in installments through post-dated cheques. A withdrawal memo and consent terms were filed with the NCLT, Mumbai Bench. The consent terms specified that upon receipt of the entire settlement amount, Ercon Composites would not initiate any further proceedings against Hamon Shriram Cottrell Pvt. Ltd. The consent terms also stated that if the cheques were dishonored, the original petition would be revived. The petitioner
…Board of Directors of Hamon Shriram…
First post-dated cheque of Rs. 1,49,870 issued…