The case involves an application filed by Suraj Air (India) Pvt Ltd, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Karnataka Agro Chemicals Pvt Ltd, the Corporate Debtor, due to a default of Rs. 15,18,826/- including interest. The case was listed on multiple dates and adjourned at the request of the parties.
Suraj Air (India) Pvt Ltd, the Operational Creditor, filed an application under Section 9 of the IBC, 2016, to initiate CIRP against Karnataka Agro Chemicals Pvt Ltd, the Corporate Debtor, due to a default of Rs. 15,18,826/- including interest at 12% p.a. The case was listed on multiple dates and adjourned. Both parties entered into a settlement where the Corporate Debtor agreed to settle Rs. 15,74,284/- in 8 installments from February 2021 to August 2021, and the Operational Creditor received 8 cheques. A Joint Memo was filed for withdrawal of the application, with the Operational Creditor agreeing to withdraw the application and both parties agreeing to the compromise and not to claim for the same cause of action in the future unless the entire amount is settled. The
…Sign in to view the parties.
The case was l…
The case was l…
The case involves an application filed by Suraj Air (India) Pvt Ltd, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Karnataka Agro Chemicals Pvt Ltd, the Corporate Debtor, due to a default of Rs. 15,18,826/- including interest. The case was listed on multiple dates and adjourned at the request of the parties.
Suraj Air (India) Pvt Ltd, the Operational Creditor, filed an application under Section 9 of the IBC, 2016, to initiate CIRP against Karnataka Agro Chemicals Pvt Ltd, the Corporate Debtor, due to a default of Rs. 15,18,826/- including interest at 12% p.a. The case was listed on multiple dates and adjourned. Both parties entered into a settlement where the Corporate Debtor agreed to settle Rs. 15,74,284/- in 8 installments from February 2021 to August 2021, and the Operational Creditor received 8 cheques. A Joint Memo was filed for withdrawal of the application, with the Operational Creditor agreeing to withdraw the application and both parties agreeing to the compromise and not to claim for the same cause of action in the future unless the entire amount is settled. The
…The case was l…
The case was l…