The case involves a dispute between M/s India Agency (Applicant) and M/s Staight Edge Contracts Pvt Ltd (Respondent). A memorandum of understanding (MOU) was executed between the Operational Creditor and Corporate Debtor on 01.07.2019, along with six post-dated cheques for Rs. 34,58,741/-. The originals of the cheques were handed over to the learned counsel for the applicant.
M/s India Agency filed an application against M/s Staight Edge Contracts Pvt Ltd. A memorandum of understanding (MOU) was executed between the parties on 2019-07-01, supported by six post-dated cheques totaling Rs. 34,58,741. The applicant sought to withdraw the application, retaining the option to revive it if the respondent defaults on the MOU. The relevance of the MOU and cheques is that they represent an agreement to settle the dispute, leading to the applicant's request for withdrawal.
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Memorandum of understanding executed between…
Order delivered…
The case involves a dispute between M/s India Agency (Applicant) and M/s Staight Edge Contracts Pvt Ltd (Respondent). A memorandum of understanding (MOU) was executed between the Operational Creditor and Corporate Debtor on 01.07.2019, along with six post-dated cheques for Rs. 34,58,741/-. The originals of the cheques were handed over to the learned counsel for the applicant.
M/s India Agency filed an application against M/s Staight Edge Contracts Pvt Ltd. A memorandum of understanding (MOU) was executed between the parties on 2019-07-01, supported by six post-dated cheques totaling Rs. 34,58,741. The applicant sought to withdraw the application, retaining the option to revive it if the respondent defaults on the MOU. The relevance of the MOU and cheques is that they represent an agreement to settle the dispute, leading to the applicant's request for withdrawal.
Memorandum of understanding executed between…
Order delivered…