The case involves a company petition CP (IB) No.05/GB/2020 filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The applicant, Kkalpana Industries (India) Ltd., is the operational creditor, and the respondent, P. K. Chowdhury & Sons Pvt. Ltd., is the corporate debtor. The matter was listed before the National Company Law Tribunal (NCLT), Guwahati Bench.
Kkalpana Industries (India) Ltd., the operational creditor, initiated insolvency proceedings against P. K. Chowdhury & Sons Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016. During the proceedings, both parties filed a joint application stating that they had reached a settlement. The applicant/operational creditor received Rs.3,25,000.00 as full and final settlement. The respondent/corporate debtor remained ex-parte. The relevance of the settlement is that it led to the withdrawal of the insolvency petition.
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The case involves a company petition CP (IB) No.05/GB/2020 filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The applicant, Kkalpana Industries (India) Ltd., is the operational creditor, and the respondent, P. K. Chowdhury & Sons Pvt. Ltd., is the corporate debtor. The matter was listed before the National Company Law Tribunal (NCLT), Guwahati Bench.
Kkalpana Industries (India) Ltd., the operational creditor, initiated insolvency proceedings against P. K. Chowdhury & Sons Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016. During the proceedings, both parties filed a joint application stating that they had reached a settlement. The applicant/operational creditor received Rs.3,25,000.00 as full and final settlement. The respondent/corporate debtor remained ex-parte. The relevance of the settlement is that it led to the withdrawal of the insolvency petition.
Order delivered on 18th…
Sign in to view related legal provisions.