The case involves a petition filed by L&T Infrastructure Finance Company Ltd against Mediciti Healthcare Services Pvt Ltd under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Financial Creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The matter was listed for admission and to order notice to the Corporate Debtor.
L&T Infrastructure Finance Company Ltd, the Financial Creditor, filed a petition against Mediciti Healthcare Services Pvt Ltd, the Corporate Debtor, under Section 7 of the IBC, 2016. The Financial Creditor sought to initiate CIRP against the Corporate Debtor. Before the petition could be admitted, the Financial Creditor filed a memo seeking permission to withdraw the petition. The reason for withdrawal was that the parties had amicably settled their disputes, and the Corporate Debtor had cleared all the dues of the Financial Creditor. The court noted that the petition was not yet admitted. The Financial Creditor's counsel was present during the proceedings.
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The Learned Counsel for Financial creditor filed…
The case involves a petition filed by L&T Infrastructure Finance Company Ltd against Mediciti Healthcare Services Pvt Ltd under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Financial Creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The matter was listed for admission and to order notice to the Corporate Debtor.
L&T Infrastructure Finance Company Ltd, the Financial Creditor, filed a petition against Mediciti Healthcare Services Pvt Ltd, the Corporate Debtor, under Section 7 of the IBC, 2016. The Financial Creditor sought to initiate CIRP against the Corporate Debtor. Before the petition could be admitted, the Financial Creditor filed a memo seeking permission to withdraw the petition. The reason for withdrawal was that the parties had amicably settled their disputes, and the Corporate Debtor had cleared all the dues of the Financial Creditor. The court noted that the petition was not yet admitted. The Financial Creditor's counsel was present during the proceedings.
Hearing he…
The Learned Counsel for Financial creditor filed…