CA No. 466/C-III/ND/2018 was filed on behalf of the Financial Creditor seeking withdrawal of the petition due to a settlement dated 2019-06-03 between the parties. The order grants liberty to revive the petition if the Corporate Debtor defaults on the terms of the settlement. Counsel for the Corporate Debtor represented that a settlement has been reached between the parties outside the Tribunal.
HT Media Limited filed a petition against MG Housing (P) Ltd. CA No. 466/C-III/ND/2018 was filed by the Financial Creditor seeking withdrawal of the petition due to a settlement reached on 2019-06-03. The settlement was reached outside the Tribunal. The Corporate Debtor's counsel represented that a settlement had been reached. The court dismissed the petition, allowing for revival if the Corporate Debtor defaults on the settlement terms. The case was regarding a potential default under Section 7 of the IBC, 2016.
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CA No. 466/C-III/ND/2018 was filed on behalf of the Financial Creditor seeking withdrawal of the petition due to a settlement dated 2019-06-03 between the parties. The order grants liberty to revive the petition if the Corporate Debtor defaults on the terms of the settlement. Counsel for the Corporate Debtor represented that a settlement has been reached between the parties outside the Tribunal.
HT Media Limited filed a petition against MG Housing (P) Ltd. CA No. 466/C-III/ND/2018 was filed by the Financial Creditor seeking withdrawal of the petition due to a settlement reached on 2019-06-03. The settlement was reached outside the Tribunal. The Corporate Debtor's counsel represented that a settlement had been reached. The court dismissed the petition, allowing for revival if the Corporate Debtor defaults on the settlement terms. The case was regarding a potential default under Section 7 of the IBC, 2016.
Settlement r…
Order delivered…
Sign in to view related legal provisions.