The case CP(IB)/54(CHE)/2021 was heard by the Chennai bench of the National Company Law Tribunal (NCLT). The petitioner is State Bank of India, and the respondent is Resurgent Power Projects Ltd. The case was regarding an application under Section 7 Rule 4 of IBC 2016. The counsels for both the petitioner and the respondent were present during the hearing.
The State Bank of India filed a petition against Resurgent Power Projects Ltd under Section 7 Rule 4 of IBC 2016. During the proceedings, the counsels for both parties were present. The petitioner, State Bank of India, accepted a One Time Settlement (OTS) proposal from the respondent, Resurgent Power Projects Ltd, as communicated in a letter dated 08.09.2021. A memo dated 01.10.2021 was filed in the registry to document the settlement. This settlement led to the dismissal of the case.
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Hearing of Chennai…
Respondent gave One Time Settlement (O.T.S.)…
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The case CP(IB)/54(CHE)/2021 was heard by the Chennai bench of the National Company Law Tribunal (NCLT). The petitioner is State Bank of India, and the respondent is Resurgent Power Projects Ltd. The case was regarding an application under Section 7 Rule 4 of IBC 2016. The counsels for both the petitioner and the respondent were present during the hearing.
The State Bank of India filed a petition against Resurgent Power Projects Ltd under Section 7 Rule 4 of IBC 2016. During the proceedings, the counsels for both parties were present. The petitioner, State Bank of India, accepted a One Time Settlement (OTS) proposal from the respondent, Resurgent Power Projects Ltd, as communicated in a letter dated 08.09.2021. A memo dated 01.10.2021 was filed in the registry to document the settlement. This settlement led to the dismissal of the case.
Hearing of Chennai…
Respondent gave One Time Settlement (O.T.S.)…
Sign in to view related legal provisions.