The Operational Creditor and the ex-directors of the Corporate Debtor entered into a compromise, leading to certain payments. The counsel for the IRP stated that no steps were taken to convene a meeting of the Committee of Creditors (CoC) due to the compromise. The counsel for the Operational Creditor, in view of the settlement, has instructions to withdraw the present petition.
The Operational Creditor and the ex-directors of the Corporate Debtor reached a compromise, resulting in payments. A post-dated cheque dated 2019-04-15 was tendered. Due to the compromise, the Operational Creditor sought to withdraw the insolvency petition filed under Section 9 of the IBC, 2016, but requested the liberty to revive the petition if the cheque was dishonored. The IRP's counsel stated that no CoC meeting was convened due to the compromise. The case was before the New Delhi Bench of the National Company Law Tribunal (NCLT).
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Hearing before the New…
A post-dated cheque of…
The Operational Creditor and the ex-directors of the Corporate Debtor entered into a compromise, leading to certain payments. The counsel for the IRP stated that no steps were taken to convene a meeting of the Committee of Creditors (CoC) due to the compromise. The counsel for the Operational Creditor, in view of the settlement, has instructions to withdraw the present petition.
The Operational Creditor and the ex-directors of the Corporate Debtor reached a compromise, resulting in payments. A post-dated cheque dated 2019-04-15 was tendered. Due to the compromise, the Operational Creditor sought to withdraw the insolvency petition filed under Section 9 of the IBC, 2016, but requested the liberty to revive the petition if the cheque was dishonored. The IRP's counsel stated that no CoC meeting was convened due to the compromise. The case was before the New Delhi Bench of the National Company Law Tribunal (NCLT).
Hearing before the New…
A post-dated cheque of…