The case involves an application (IA No. 142/2020) filed in connection with a Company Petition (CP No. (IB) 290/ALD/2019) under Section 9 of the IBC. The application seeks withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against Horizon Dwelling Pvt Ltd. The petitioner, Manoj Kumar Das, had initially filed the company petition, which was admitted by the court on 2020-06-10. Subsequently, the applicant and the respondent (Corporate Debtor) entered into a settlement agreement.
Manoj Kumar Das filed a Company Petition (IB) 290/ALD/2019 against Horizon Dwelling Pvt Ltd under Section 9 of the IBC, which was admitted on 2020-06-10, initiating the Corporate Insolvency Resolution Process (CIRP). The IRP published a paper announcement inviting creditors. Subsequently, Manoj Kumar Das and Horizon Dwelling Pvt Ltd entered into a settlement agreement where Manoj Kumar Das paid Rs. 27,50,000. Horizon Dwelling Pvt Ltd filed Company Appeal (AT) (Insolvency) No. 567 of 2020 before the NCLAT, seeking permission to approach the NCLT for an order pursuant to the settlement. The IRP submitted a progress report but had not yet constituted a CoC. The applicant sought withdrawal of the CIRP based on the settlement. The relevance of the settlement is that it
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Company Petition (IB) 290/ALD/2019 filed by…
Court allowed the application for initiation of…
The case involves an application (IA No. 142/2020) filed in connection with a Company Petition (CP No. (IB) 290/ALD/2019) under Section 9 of the IBC. The application seeks withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against Horizon Dwelling Pvt Ltd. The petitioner, Manoj Kumar Das, had initially filed the company petition, which was admitted by the court on 2020-06-10. Subsequently, the applicant and the respondent (Corporate Debtor) entered into a settlement agreement.
Manoj Kumar Das filed a Company Petition (IB) 290/ALD/2019 against Horizon Dwelling Pvt Ltd under Section 9 of the IBC, which was admitted on 2020-06-10, initiating the Corporate Insolvency Resolution Process (CIRP). The IRP published a paper announcement inviting creditors. Subsequently, Manoj Kumar Das and Horizon Dwelling Pvt Ltd entered into a settlement agreement where Manoj Kumar Das paid Rs. 27,50,000. Horizon Dwelling Pvt Ltd filed Company Appeal (AT) (Insolvency) No. 567 of 2020 before the NCLAT, seeking permission to approach the NCLT for an order pursuant to the settlement. The IRP submitted a progress report but had not yet constituted a CoC. The applicant sought withdrawal of the CIRP based on the settlement. The relevance of the settlement is that it
…Company Petition (IB) 290/ALD/2019 filed by…
Court allowed the application for initiation of…