The case involves a settlement between M/s. Dunlop Taikoo (Jinjiang) Aircraft Tyres Co. Ltd, the Operational Creditor, and M/s. Magnum Aviation Pvt. Ltd., the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed. An application was filed under Section 12 through the IRP along with Form F, indicating a settlement. The Company Petition No. IB-1666/ND/2019 was admitted on 03.03.2021, and a public announcement was made on 07.03.2021.
M/s. Dunlop Taikoo (Jinjiang) Aircraft Tyres Co. Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. Magnum Aviation Pvt. Ltd. The Company Petition No. IB-1666/ND/2019 was admitted on 03.03.2021, and a public announcement was made on 07.03.2021. However, a settlement was reached between the parties on 10.03.2021. The Committee of Creditors had not been constituted by 10.03.2021. The Corporate Debtor made full and final payment to the Operational Creditor. The IRP, Mr. Gaurav Rohila, received expenses incurred during the process. The Operational Creditor then requested to withdraw the Company Petition.
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The case involves a settlement between M/s. Dunlop Taikoo (Jinjiang) Aircraft Tyres Co. Ltd, the Operational Creditor, and M/s. Magnum Aviation Pvt. Ltd., the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed. An application was filed under Section 12 through the IRP along with Form F, indicating a settlement. The Company Petition No. IB-1666/ND/2019 was admitted on 03.03.2021, and a public announcement was made on 07.03.2021.
M/s. Dunlop Taikoo (Jinjiang) Aircraft Tyres Co. Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. Magnum Aviation Pvt. Ltd. The Company Petition No. IB-1666/ND/2019 was admitted on 03.03.2021, and a public announcement was made on 07.03.2021. However, a settlement was reached between the parties on 10.03.2021. The Committee of Creditors had not been constituted by 10.03.2021. The Corporate Debtor made full and final payment to the Operational Creditor. The IRP, Mr. Gaurav Rohila, received expenses incurred during the process. The Operational Creditor then requested to withdraw the Company Petition.
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