The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor (Petitioner) sought to initiate insolvency proceedings against the Corporate Debtor (Respondent).
Next Radio Ltd., the Operational Creditor, filed a petition against Naiknavare Housing Developments Pvt. Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed due to an outstanding operational debt of Rs. 1,45,787/-. Subsequently, Naiknavare Housing Developments Pvt. Ltd. paid the full amount to Next Radio Ltd., leading Next Radio Ltd. to submit a withdrawal memo to the NCLT. The Learned Representative for the Petitioner placed on record the Withdrawal Memo.
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Hearing of the Mumbai…
The petition is…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor (Petitioner) sought to initiate insolvency proceedings against the Corporate Debtor (Respondent).
Next Radio Ltd., the Operational Creditor, filed a petition against Naiknavare Housing Developments Pvt. Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed due to an outstanding operational debt of Rs. 1,45,787/-. Subsequently, Naiknavare Housing Developments Pvt. Ltd. paid the full amount to Next Radio Ltd., leading Next Radio Ltd. to submit a withdrawal memo to the NCLT. The Learned Representative for the Petitioner placed on record the Withdrawal Memo.
Hearing of the Mumbai…
The petition is…