The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner sought to initiate corporate insolvency resolution process against the corporate debtor. However, a settlement was reached between the parties.
Corporation Bank, the applicant (operational creditor), filed a petition against M/s. Supertech Ltd., the respondent (corporate debtor), under Section 7 of the IBC, 2016. During the proceedings, the learned counsel for the petitioner stated that a settlement had been reached between the parties, and the petitioner wished to withdraw the petition. The court considered this submission.
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The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner sought to initiate corporate insolvency resolution process against the corporate debtor. However, a settlement was reached between the parties.
Corporation Bank, the applicant (operational creditor), filed a petition against M/s. Supertech Ltd., the respondent (corporate debtor), under Section 7 of the IBC, 2016. During the proceedings, the learned counsel for the petitioner stated that a settlement had been reached between the parties, and the petitioner wished to withdraw the petition. The court considered this submission.
Order delive…
File to be cons…