The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) by Dadu Suppliers, an operational creditor, against SEW Infrastructure Ltd, the corporate debtor. The petition was filed due to an alleged default in payment. During the proceedings, both parties filed a joint memo of withdrawal along with a settlement agreement, indicating that they had amicably settled the claim.
Dadu Suppliers, the operational creditor, filed a petition under Section 9 of the IBC against SEW Infrastructure Ltd, the corporate debtor, due to alleged payment defaults. The parties subsequently entered into a settlement agreement dated April 25, 2019. A joint memo of withdrawal was filed by both parties on June 11, 2019, seeking permission to withdraw the petition based on the settlement. The petition had not yet been admitted by the court. The settlement agreement is a key fact as it forms the basis for the withdrawal of the petition.
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Hearing held…
Hearing held…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) by Dadu Suppliers, an operational creditor, against SEW Infrastructure Ltd, the corporate debtor. The petition was filed due to an alleged default in payment. During the proceedings, both parties filed a joint memo of withdrawal along with a settlement agreement, indicating that they had amicably settled the claim.
Dadu Suppliers, the operational creditor, filed a petition under Section 9 of the IBC against SEW Infrastructure Ltd, the corporate debtor, due to alleged payment defaults. The parties subsequently entered into a settlement agreement dated April 25, 2019. A joint memo of withdrawal was filed by both parties on June 11, 2019, seeking permission to withdraw the petition based on the settlement. The petition had not yet been admitted by the court. The settlement agreement is a key fact as it forms the basis for the withdrawal of the petition.
Hearing held…
Hearing held…