The case involves an application under the Insolvency and Bankruptcy Code (IBC). A memo and a Memorandum of Settlement were placed on record by the Counsel for the Corporate Debtor. The application was disposed of in light of the memo and the Memorandum of Settlement.
Santosh Ltd filed a petition (IBA/788/2019) against Oren Hydrocarbons Pvt Ltd under Section 9 Rule 6 of the IBC. Counsels for both parties were present. The Corporate Debtor's counsel submitted a memo and a Memorandum of Settlement. The court disposed of the application based on the settlement, but allowed the Operational Creditor to revive the petition if the Corporate Debtor defaults on payments or if post-dated cheques are dishonored. The Memorandum of Settlement was dated 2019-09-26.
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The case involves an application under the Insolvency and Bankruptcy Code (IBC). A memo and a Memorandum of Settlement were placed on record by the Counsel for the Corporate Debtor. The application was disposed of in light of the memo and the Memorandum of Settlement.
Santosh Ltd filed a petition (IBA/788/2019) against Oren Hydrocarbons Pvt Ltd under Section 9 Rule 6 of the IBC. Counsels for both parties were present. The Corporate Debtor's counsel submitted a memo and a Memorandum of Settlement. The court disposed of the application based on the settlement, but allowed the Operational Creditor to revive the petition if the Corporate Debtor defaults on payments or if post-dated cheques are dishonored. The Memorandum of Settlement was dated 2019-09-26.
Hearing held a…
Memorandum of…
Sign in to view related legal provisions.