The case involves an application under Section 7 of the Insolvency & Bankruptcy Code, 2016. An amicable settlement was reached between the parties, with final details worked out and post-dated cheques issued for payment by September 2019.
BDR Finvest Pvt. Ltd. filed a petition against Ninex Developers Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The parties reached an amicable settlement, with post-dated cheques issued to be paid by September 2019. As a result of this settlement, BDR Finvest Pvt. Ltd. withdrew the petition. The court dismissed the petition, granting BDR Finvest Pvt. Ltd. the liberty to file a new application if Ninex Developers Ltd. violates the terms of the settlement. The amicable settlement is the key fact that led to the dismissal of the petition.
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The Insolvency &…
The order was delivered…
The case involves an application under Section 7 of the Insolvency & Bankruptcy Code, 2016. An amicable settlement was reached between the parties, with final details worked out and post-dated cheques issued for payment by September 2019.
BDR Finvest Pvt. Ltd. filed a petition against Ninex Developers Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The parties reached an amicable settlement, with post-dated cheques issued to be paid by September 2019. As a result of this settlement, BDR Finvest Pvt. Ltd. withdrew the petition. The court dismissed the petition, granting BDR Finvest Pvt. Ltd. the liberty to file a new application if Ninex Developers Ltd. violates the terms of the settlement. The amicable settlement is the key fact that led to the dismissal of the petition.
The Insolvency &…
The order was delivered…