The case involves a petition filed by Shri Doddappagowda Shivasangappa Patil, the Financial Creditor, under Section 7 of the IBC, 2016, against M/s. Mantri Developers Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition was based on the Corporate Debtor's alleged default of Rs. 1,27,34,200 as of 30.06.2018. The case was listed for admission on multiple dates, during which the parties explored settlement possibilities.
Shri Doddappagowda Shivasangappa Patil, the Financial Creditor, filed a petition under Section 7 of the IBC, 2016, against M/s. Mantri Developers Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 1,27,34,200 as of 30.06.2018. The case was listed for admission on various dates. During the proceedings, the parties entered into a Memorandum of Settlement dated 21.09.2019, where the Corporate Debtor agreed to pay Rs. 1,26,77,757 to the Financial Creditor. Consequently, the Financial Creditor sought to withdraw the petition, which was supported by the Corporate Debtor. The relevance of the settlement is that it resolved the dispute between the parties, leading to the withdrawal of the insolvency
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The case involves a petition filed by Shri Doddappagowda Shivasangappa Patil, the Financial Creditor, under Section 7 of the IBC, 2016, against M/s. Mantri Developers Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition was based on the Corporate Debtor's alleged default of Rs. 1,27,34,200 as of 30.06.2018. The case was listed for admission on multiple dates, during which the parties explored settlement possibilities.
Shri Doddappagowda Shivasangappa Patil, the Financial Creditor, filed a petition under Section 7 of the IBC, 2016, against M/s. Mantri Developers Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 1,27,34,200 as of 30.06.2018. The case was listed for admission on various dates. During the proceedings, the parties entered into a Memorandum of Settlement dated 21.09.2019, where the Corporate Debtor agreed to pay Rs. 1,26,77,757 to the Financial Creditor. Consequently, the Financial Creditor sought to withdraw the petition, which was supported by the Corporate Debtor. The relevance of the settlement is that it resolved the dispute between the parties, leading to the withdrawal of the insolvency
…The case was i…
The case was li…