The petitioner filed an application under Section 9, Rule 6 of the IBC. During the proceedings, a settlement agreement was reached between the petitioner and the corporate debtor, leading the petitioner to seek withdrawal of the petition.
The case involves an application filed under Section 9 , Rule 6 of the Insolvency and Bankruptcy Code (IBC). The petitioner in this matter is IDBI Capital Mumbai And Services Pvt Ltd, and the respondent is Pallavada Technical Textile Pvt Ltd. The application number for this proceeding is IBA/159/2020, indicating its nature as an insolvency-related petition before the National Company Law Tribunal. During the course of the proceedings, specifically on January 5, 2021, a Settlement Agreement was executed between the petitioner and the corporate debtor. This agreement stipulated that the petitioner would withdraw the petition upon receiving the agreed-upon consideration. Consequently, the advocate representing the petitioner informed the Tribunal of this development and
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A Settlement Agreement…
The National Company Law Tribunal, Chennai…
The petitioner filed an application under Section 9, Rule 6 of the IBC. During the proceedings, a settlement agreement was reached between the petitioner and the corporate debtor, leading the petitioner to seek withdrawal of the petition.
The case involves an application filed under Section 9 , Rule 6 of the Insolvency and Bankruptcy Code (IBC). The petitioner in this matter is IDBI Capital Mumbai And Services Pvt Ltd, and the respondent is Pallavada Technical Textile Pvt Ltd. The application number for this proceeding is IBA/159/2020, indicating its nature as an insolvency-related petition before the National Company Law Tribunal. During the course of the proceedings, specifically on January 5, 2021, a Settlement Agreement was executed between the petitioner and the corporate debtor. This agreement stipulated that the petitioner would withdraw the petition upon receiving the agreed-upon consideration. Consequently, the advocate representing the petitioner informed the Tribunal of this development and
…A Settlement Agreement…
The National Company Law Tribunal, Chennai…