The case involves an application (CA(IB) No. 556/KB/2019) filed by the Interim Resolution Professional to record the settlement of a dispute between the parties before the Committee of Creditors was formed. The matter was settled between the Operational Creditor and the Corporate Debtor.
Machinery Agencies (India) initiated a Corporate Insolvency Resolution Process (CIRP) against S & H Manufacturing and Trading Pvt. Ltd. under Section 9 of the IBC. An Interim Resolution Professional was appointed. Before the Committee of Creditors could be formed, the Operational Creditor and the Corporate Debtor reached a settlement. The Interim Resolution Professional then filed an application (CA(IB) No. 556/KB/2019) to record this settlement. The Interim Resolution Professional's fees and costs were also paid.
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CP(IB) No.1515…
Hearing held…
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The case involves an application (CA(IB) No. 556/KB/2019) filed by the Interim Resolution Professional to record the settlement of a dispute between the parties before the Committee of Creditors was formed. The matter was settled between the Operational Creditor and the Corporate Debtor.
Machinery Agencies (India) initiated a Corporate Insolvency Resolution Process (CIRP) against S & H Manufacturing and Trading Pvt. Ltd. under Section 9 of the IBC. An Interim Resolution Professional was appointed. Before the Committee of Creditors could be formed, the Operational Creditor and the Corporate Debtor reached a settlement. The Interim Resolution Professional then filed an application (CA(IB) No. 556/KB/2019) to record this settlement. The Interim Resolution Professional's fees and costs were also paid.
CP(IB) No.1515…
Hearing held…
Sign in to view related legal provisions.