The case involves an application filed by M/s. CMS IT Services Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Krisfo Infotech Solutions Private Limited (Corporate Debtor) for defaulting on a payment of Rs. 19,87,390. The case was listed for admission on multiple dates and adjourned at the request of the parties to facilitate settlement.
M/s. CMS IT Services Private Limited, the Operational Creditor, filed C.P. (IB) No. 127/BB/2020 under Section 9 of the IBC seeking to initiate CIRP against M/s. Krisfo Infotech Solutions Private Limited, the Corporate Debtor. The basis for the application was a default of Rs. 19,87,390. The case was listed for admission on several dates, including 28.02.2020, 26.02.2020, 11.06.2020, 29.06.2020, 03.08.2020, and 24.08.2020, and was repeatedly adjourned at the parties' request to allow for settlement negotiations. Ultimately, the parties reached an amicable settlement, leading the Operational Creditor to request withdrawal of the petition. The court, finding the petition at the admission stage, granted the withdrawal.
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The case was i…
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The case involves an application filed by M/s. CMS IT Services Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Krisfo Infotech Solutions Private Limited (Corporate Debtor) for defaulting on a payment of Rs. 19,87,390. The case was listed for admission on multiple dates and adjourned at the request of the parties to facilitate settlement.
M/s. CMS IT Services Private Limited, the Operational Creditor, filed C.P. (IB) No. 127/BB/2020 under Section 9 of the IBC seeking to initiate CIRP against M/s. Krisfo Infotech Solutions Private Limited, the Corporate Debtor. The basis for the application was a default of Rs. 19,87,390. The case was listed for admission on several dates, including 28.02.2020, 26.02.2020, 11.06.2020, 29.06.2020, 03.08.2020, and 24.08.2020, and was repeatedly adjourned at the parties' request to allow for settlement negotiations. Ultimately, the parties reached an amicable settlement, leading the Operational Creditor to request withdrawal of the petition. The court, finding the petition at the admission stage, granted the withdrawal.
The case was i…
The case was li…