Yusen Logistics (India) Private Limited, an operational creditor, filed a petition against Inox Wind Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner sought to withdraw the petition as the matter was settled.
Yusen Logistics (India) Private Limited, the operational creditor, initiated proceedings against Inox Wind Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor then sought to withdraw the petition, stating that the matter had been settled. The court permitted the withdrawal and dismissed the petition without granting liberty to file a fresh petition on the same cause of action. The key fact is the settlement between the parties leading to the withdrawal of the insolvency petition.
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The order was d…
Yusen Logistics (India) Private Limited, an operational creditor, filed a petition against Inox Wind Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner sought to withdraw the petition as the matter was settled.
Yusen Logistics (India) Private Limited, the operational creditor, initiated proceedings against Inox Wind Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor then sought to withdraw the petition, stating that the matter had been settled. The court permitted the withdrawal and dismissed the petition without granting liberty to file a fresh petition on the same cause of action. The key fact is the settlement between the parties leading to the withdrawal of the insolvency petition.
The order was d…