The case pertains to an insolvency resolution process before the National Company Law Tribunal (NCLT), Mumbai Bench. The order sheet reflects the hearing held on March 27, 2019, involving Centenary Polytex Pvt. Ltd. as the applicant and Shri Saikrupa Sugar & Allied Industries Ltd. as the respondent. The matter concerns an application under the Insolvency and Bankruptcy Code, 2016.
Centenary Polytex Pvt. Ltd. initiated an insolvency proceeding against Shri Saikrupa Sugar & Allied Industries Ltd. before the NCLT Mumbai Bench. During the hearing on March 27, 2019, the representative of the operational debtor, Shri Saikrupa Sugar & Allied Industries Ltd., submitted Consent Terms. Based on these Consent Terms, the NCLT dismissed the petition as withdrawn. The Consent Terms were taken on record along with Xerox copies of PDC (Post-Dated Checks), and the applicant, Centenary Polytex Pvt. Ltd., was granted the liberty to file a fresh application if there is a breach of the Consent Terms. The Consent Terms were made part of the order and consigned to records. This indicates a settlement between the parties leading to the withdrawal of the
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Order issued dismissing…
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The case pertains to an insolvency resolution process before the National Company Law Tribunal (NCLT), Mumbai Bench. The order sheet reflects the hearing held on March 27, 2019, involving Centenary Polytex Pvt. Ltd. as the applicant and Shri Saikrupa Sugar & Allied Industries Ltd. as the respondent. The matter concerns an application under the Insolvency and Bankruptcy Code, 2016.
Centenary Polytex Pvt. Ltd. initiated an insolvency proceeding against Shri Saikrupa Sugar & Allied Industries Ltd. before the NCLT Mumbai Bench. During the hearing on March 27, 2019, the representative of the operational debtor, Shri Saikrupa Sugar & Allied Industries Ltd., submitted Consent Terms. Based on these Consent Terms, the NCLT dismissed the petition as withdrawn. The Consent Terms were taken on record along with Xerox copies of PDC (Post-Dated Checks), and the applicant, Centenary Polytex Pvt. Ltd., was granted the liberty to file a fresh application if there is a breach of the Consent Terms. The Consent Terms were made part of the order and consigned to records. This indicates a settlement between the parties leading to the withdrawal of the
…Hearing of Mumbai Bench…
Order issued dismissing…
Sign in to view related legal provisions.