The case involves an application filed by the financial creditor, State Bank of India, for withdrawal of the main Company Petition No. (IB)-925(PB)/2020. The withdrawal is based on a settlement reached between the parties involved.
State Bank of India, the financial creditor, filed an application to withdraw the main Company Petition No. (IB)-925(PB)/2020 against M/s. Indo Alusys Industries Ltd. The application, IA-5037/2021, was filed because the parties reached a settlement. The main petition was filed under Section 7 of the Insolvency & Bankruptcy Code, 2016. The court considered the settlement as a valid reason for withdrawal.
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Main Company Petition…
Order delivered allowing…
The case involves an application filed by the financial creditor, State Bank of India, for withdrawal of the main Company Petition No. (IB)-925(PB)/2020. The withdrawal is based on a settlement reached between the parties involved.
State Bank of India, the financial creditor, filed an application to withdraw the main Company Petition No. (IB)-925(PB)/2020 against M/s. Indo Alusys Industries Ltd. The application, IA-5037/2021, was filed because the parties reached a settlement. The main petition was filed under Section 7 of the Insolvency & Bankruptcy Code, 2016. The court considered the settlement as a valid reason for withdrawal.
Main Company Petition…
Order delivered allowing…