M/s. Global Infonet Distribution Private Limited, the Operational Creditor, filed C.P.(IB)No.207/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ikyam Solutions Private Limited, the Corporate Debtor, due to a default of Rs. 10,01,117/- along with interest @ 24% per annum, outstanding and payable as per agreed terms effective from 31.12.2017. The case was initially rejected but was later set aside and remitted back by the NCLAT.
M/s. Global Infonet Distribution Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against M/s. Ikyam Solutions Private Limited (Corporate Debtor) due to a default of Rs. 10,01,117/- with 24% interest, as per agreed terms from 31.12.2017. The case was initially rejected but later reinstated by NCLAT. During the proceedings, the parties settled the matter amicably, leading the Petitioner to file a Memo for Withdrawal. The key fact is the settlement between the parties, which led to the withdrawal of the petition.
Sign in to view the parties.
The agreed terms for the debt between the…
Corporate Debtor…
M/s. Global Infonet Distribution Private Limited, the Operational Creditor, filed C.P.(IB)No.207/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ikyam Solutions Private Limited, the Corporate Debtor, due to a default of Rs. 10,01,117/- along with interest @ 24% per annum, outstanding and payable as per agreed terms effective from 31.12.2017. The case was initially rejected but was later set aside and remitted back by the NCLAT.
M/s. Global Infonet Distribution Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against M/s. Ikyam Solutions Private Limited (Corporate Debtor) due to a default of Rs. 10,01,117/- with 24% interest, as per agreed terms from 31.12.2017. The case was initially rejected but later reinstated by NCLAT. During the proceedings, the parties settled the matter amicably, leading the Petitioner to file a Memo for Withdrawal. The key fact is the settlement between the parties, which led to the withdrawal of the petition.
The agreed terms for the debt between the…
Corporate Debtor…