The case involves CP (IB) No. 186/CB/2020. Rubber O Malabar Products Pvt. Ltd. filed a petition against Laxmiasho Conveyors & Variants Pvt. Ltd. under Section 9 of the IBC. After multiple hearings, the parties reached a settlement agreement dated 2021-07-14. The settlement agreement was taken on record by the NCLT Cuttack Bench. Consequently, the petition was dismissed as withdrawn. The Operational Creditor is granted the liberty to revive the Company Petition if the Corporate Debtor defaults on the settlement agreement. The case was heard by Hon'ble Member(J), Shri Rajasekhar V. K., and Hon'ble Member(T), Shri Satya Ranjan Prasad.

The case involves CP (IB) No. 186/CB/2020. Rubber O Malabar Products Pvt. Ltd. filed a petition against Laxmiasho Conveyors & Variants Pvt. Ltd. under Section 9 of the IBC. After multiple hearings, the parties reached a settlement agreement dated 2021-07-14. The settlement agreement was taken on record by the NCLT Cuttack Bench. Consequently, the petition was dismissed as withdrawn. The Operational Creditor is granted the liberty to revive the Company Petition if the Corporate Debtor defaults on the settlement agreement. The case was heard by Hon'ble Member(J), Shri Rajasekhar V. K., and Hon'ble Member(T), Shri Satya Ranjan Prasad.