The case involves M/s. Formica Laminates (India) Private Limited, the Operational Creditor/Petitioner, filing C.P. (IB) No.152/BB/2018 under Section 9 of the IBC, 2016, R/w Rule 6 of the I&B(AAA) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Peel Asia Trading Private Limited, the Corporate Debtor/Respondent. The basis for the petition was the Corporate Debtor's alleged default of Rs. 1,24,03,689/- (principal) and Rs. 68,67,940/- (interest).
M/s. Formica Laminates (India) Private Limited, the Operational Creditor, filed C.P. (IB) No.152/BB/2018 under Section 9 of the IBC, 2016, against M/s. Peel Asia Trading Private Limited, the Corporate Debtor. The petition was based on a default of Rs. 1,24,03,689/- (principal) and Rs. 68,67,940/- (interest). The case was listed for admission on various dates and adjourned multiple times. The Petitioner sought to withdraw the petition with the liberty to file a fresh petition, citing settlement of issues and urgency. A Memo of Withdrawal dated 30.07.2019 was filed. The Tribunal allowed the withdrawal with liberty to file a fresh petition.
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The case involves M/s. Formica Laminates (India) Private Limited, the Operational Creditor/Petitioner, filing C.P. (IB) No.152/BB/2018 under Section 9 of the IBC, 2016, R/w Rule 6 of the I&B(AAA) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Peel Asia Trading Private Limited, the Corporate Debtor/Respondent. The basis for the petition was the Corporate Debtor's alleged default of Rs. 1,24,03,689/- (principal) and Rs. 68,67,940/- (interest).
M/s. Formica Laminates (India) Private Limited, the Operational Creditor, filed C.P. (IB) No.152/BB/2018 under Section 9 of the IBC, 2016, against M/s. Peel Asia Trading Private Limited, the Corporate Debtor. The petition was based on a default of Rs. 1,24,03,689/- (principal) and Rs. 68,67,940/- (interest). The case was listed for admission on various dates and adjourned multiple times. The Petitioner sought to withdraw the petition with the liberty to file a fresh petition, citing settlement of issues and urgency. A Memo of Withdrawal dated 30.07.2019 was filed. The Tribunal allowed the withdrawal with liberty to file a fresh petition.
The case was li…
The case was li…
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