The case involves MA-1430/2019 filed in C.P.(IB)/90/(MB)/2018 before the National Company Law Tribunal, Mumbai Bench. The petition was filed by Operational Creditor M/s Manhar Trading Corporation invoking the provisions of Section 9 of the I&B Code against the Respondent Company, Rajdeep Steel Products Pvt. Ltd. The Insolvency Resolution Process was initiated against the Corporate debtor Rajdeep Steel Products Private Limited. The Hon'ble Tribunal passed an order on 2019-02-11 admitting the petition against the Corporate Debtor under section 9 of the I&B Code. An IRP was appointed. The Committee of Creditors was not formed yet. The Applicant Company settled the dispute and paid the due amount.
Manhar Trading Corporation filed a petition against Rajdeep Steel Products Pvt. Ltd. under Section 9 of the I&B Code, initiating the Insolvency Resolution Process. The Tribunal admitted the petition on 2019-02-11. An IRP was appointed. The Committee of Creditors was not yet formed. Subsequently, Rajdeep Steel Products Pvt. Ltd. settled the dispute by paying ₹8,50,000, which included the professional charges of the IRP and other expenses. As a result of the settlement, Manhar Trading Corporation sought permission to withdraw the petition. The Tribunal granted the permission, disposed of MA-1430/2019, and ordered the petition to be withdrawn and consigned to records. The key fact is the settlement of dues leading to the withdrawal of the insolvency petition.
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C.P.(IB)/90/(M…
The Tribunal admitted the petition against the…
The case involves MA-1430/2019 filed in C.P.(IB)/90/(MB)/2018 before the National Company Law Tribunal, Mumbai Bench. The petition was filed by Operational Creditor M/s Manhar Trading Corporation invoking the provisions of Section 9 of the I&B Code against the Respondent Company, Rajdeep Steel Products Pvt. Ltd. The Insolvency Resolution Process was initiated against the Corporate debtor Rajdeep Steel Products Private Limited. The Hon'ble Tribunal passed an order on 2019-02-11 admitting the petition against the Corporate Debtor under section 9 of the I&B Code. An IRP was appointed. The Committee of Creditors was not formed yet. The Applicant Company settled the dispute and paid the due amount.
Manhar Trading Corporation filed a petition against Rajdeep Steel Products Pvt. Ltd. under Section 9 of the I&B Code, initiating the Insolvency Resolution Process. The Tribunal admitted the petition on 2019-02-11. An IRP was appointed. The Committee of Creditors was not yet formed. Subsequently, Rajdeep Steel Products Pvt. Ltd. settled the dispute by paying ₹8,50,000, which included the professional charges of the IRP and other expenses. As a result of the settlement, Manhar Trading Corporation sought permission to withdraw the petition. The Tribunal granted the permission, disposed of MA-1430/2019, and ordered the petition to be withdrawn and consigned to records. The key fact is the settlement of dues leading to the withdrawal of the insolvency petition.
C.P.(IB)/90/(M…
The Tribunal admitted the petition against the…