The petition filed by Expert Enterprises against RS Seven Lifestyle (P) Ltd was kept pending due to a settlement agreement dated 2019-04-15. A substantial amount towards payment in relation to the claim made before the Tribunal in the main Company petition had been paid. However, a balance amount remained to be paid by the Corporate Debtor within the time schedule of the settlement.
Expert Enterprises filed a petition against RS Seven Lifestyle (P) Ltd. A settlement agreement was reached on 2019-04-15, leading to the petition being kept pending. A substantial payment was made towards the claim, but a balance amount remained unpaid by the Corporate Debtor, RS Seven Lifestyle (P) Ltd, within the agreed settlement schedule. The petitioner, Expert Enterprises, sought to withdraw the petition with the liberty to issue notice under Section 8 of the IBC, 2016, for the unpaid balance. The Tribunal allowed the withdrawal, dismissing the petition.
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A settlement agreement was dated 2019-04-15…
The Tribunal delivered…
The petition filed by Expert Enterprises against RS Seven Lifestyle (P) Ltd was kept pending due to a settlement agreement dated 2019-04-15. A substantial amount towards payment in relation to the claim made before the Tribunal in the main Company petition had been paid. However, a balance amount remained to be paid by the Corporate Debtor within the time schedule of the settlement.
Expert Enterprises filed a petition against RS Seven Lifestyle (P) Ltd. A settlement agreement was reached on 2019-04-15, leading to the petition being kept pending. A substantial payment was made towards the claim, but a balance amount remained unpaid by the Corporate Debtor, RS Seven Lifestyle (P) Ltd, within the agreed settlement schedule. The petitioner, Expert Enterprises, sought to withdraw the petition with the liberty to issue notice under Section 8 of the IBC, 2016, for the unpaid balance. The Tribunal allowed the withdrawal, dismissing the petition.
A settlement agreement was dated 2019-04-15…
The Tribunal delivered…