The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The matter was brought before the National Company Law Tribunal (NCLT), Ahmedabad. The applicant is Samarth Lifers Pvt Ltd, and the respondent is KP Energy Ltd. The Learned Counsels submitted that the matter is settled between the parties, and a withdrawal purshish has been filed. The Operational Creditor sought permission to withdraw the IB petition.
Samarth Lifers Pvt Ltd filed an application against KP Energy Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC) before the National Company Law Tribunal (NCLT), Ahmedabad. During the proceedings, both parties reached a settlement. The Learned Counsels representing both sides informed the court about the settlement and filed a withdrawal purshish. The Operational Creditor, Samarth Lifers Pvt Ltd, requested permission from the court to withdraw the insolvency petition. The relevance of these facts lies in the resolution of the dispute between the parties, leading to the withdrawal of the insolvency proceedings.
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The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The matter was brought before the National Company Law Tribunal (NCLT), Ahmedabad. The applicant is Samarth Lifers Pvt Ltd, and the respondent is KP Energy Ltd. The Learned Counsels submitted that the matter is settled between the parties, and a withdrawal purshish has been filed. The Operational Creditor sought permission to withdraw the IB petition.
Samarth Lifers Pvt Ltd filed an application against KP Energy Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC) before the National Company Law Tribunal (NCLT), Ahmedabad. During the proceedings, both parties reached a settlement. The Learned Counsels representing both sides informed the court about the settlement and filed a withdrawal purshish. The Operational Creditor, Samarth Lifers Pvt Ltd, requested permission from the court to withdraw the insolvency petition. The relevance of these facts lies in the resolution of the dispute between the parties, leading to the withdrawal of the insolvency proceedings.
The order was delivered…
Sign in to view related legal provisions.