The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The operational creditor sought to initiate corporate insolvency resolution process against the corporate debtor.
The operational creditor, Autocop India Pvt Ltd, initiated proceedings against the corporate debtor, Metronic Engineering Pvt Ltd, under Section 9 of the IBC. Both parties reached a settlement and filed a joint memo of settlement. The operational creditor then sought permission to withdraw the petition. The key fact is the settlement between the parties, leading to the request for withdrawal.
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Hearing held on…
Both parties submitted…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The operational creditor sought to initiate corporate insolvency resolution process against the corporate debtor.
The operational creditor, Autocop India Pvt Ltd, initiated proceedings against the corporate debtor, Metronic Engineering Pvt Ltd, under Section 9 of the IBC. Both parties reached a settlement and filed a joint memo of settlement. The operational creditor then sought permission to withdraw the petition. The key fact is the settlement between the parties, leading to the request for withdrawal.
Hearing held on…
Both parties submitted…