The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Kunal Conchem Private Limited (Operational Creditor) against Navayuga Engineering Company Limited (Corporate Debtor).
Kunal Conchem Private Limited, the Operational Creditor, filed a petition under Section 9 of the IBC against Navayuga Engineering Company Limited, the Corporate Debtor. The petition was filed with the NCLT Amaravati Bench. The NCLT heard both parties and noted that a settlement memo had been filed. Based on this settlement, the NCLT dismissed the petition as withdrawn. The key fact is the settlement between the parties, which led to the dismissal of the CIRP application.
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Hearing held…
Order issued dismissing…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Kunal Conchem Private Limited (Operational Creditor) against Navayuga Engineering Company Limited (Corporate Debtor).
Kunal Conchem Private Limited, the Operational Creditor, filed a petition under Section 9 of the IBC against Navayuga Engineering Company Limited, the Corporate Debtor. The petition was filed with the NCLT Amaravati Bench. The NCLT heard both parties and noted that a settlement memo had been filed. Based on this settlement, the NCLT dismissed the petition as withdrawn. The key fact is the settlement between the parties, which led to the dismissal of the CIRP application.
Hearing held…
Order issued dismissing…