The case involves an application under Section 9 of the Insolvency & Bankruptcy Code, 2016. Kkalpana Industries (India) Ltd., the applicant/operational creditor, initiated proceedings against P. K. Chowdhury & Sons Pvt. Ltd., the respondent/corporate debtor. The matter was before the National Company Law Tribunal (NCLT), Guwahati Bench.
Kkalpana Industries (India) Ltd. initiated insolvency proceedings against P. K. Chowdhury & Sons Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016. The respondent, P. K. Chowdhury & Sons Pvt. Ltd., remained ex-parte during the proceedings. A joint application was filed, indicating that both parties had reached a settlement. As part of the settlement, Kkalpana Industries (India) Ltd. received Rs. 3,25,000.00 from P. K. Chowdhury & Sons Pvt. Ltd. towards full and final settlement of their claim. This settlement led to the withdrawal of the company petition.
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The case involves an application under Section 9 of the Insolvency & Bankruptcy Code, 2016. Kkalpana Industries (India) Ltd., the applicant/operational creditor, initiated proceedings against P. K. Chowdhury & Sons Pvt. Ltd., the respondent/corporate debtor. The matter was before the National Company Law Tribunal (NCLT), Guwahati Bench.
Kkalpana Industries (India) Ltd. initiated insolvency proceedings against P. K. Chowdhury & Sons Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016. The respondent, P. K. Chowdhury & Sons Pvt. Ltd., remained ex-parte during the proceedings. A joint application was filed, indicating that both parties had reached a settlement. As part of the settlement, Kkalpana Industries (India) Ltd. received Rs. 3,25,000.00 from P. K. Chowdhury & Sons Pvt. Ltd. towards full and final settlement of their claim. This settlement led to the withdrawal of the company petition.
Order delivered…
Company petition…
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