The case pertains to CP(IB) 161 of 2020 before the Ahmedabad Bench of the National Company Law Tribunal. The hearing was conducted through video conferencing. The Operational Creditor sought permission to withdraw the IB petition as the matter was settled between the parties.
The Operational Creditor filed an insolvency petition against the Corporate Debtor. Subsequently, the parties reached a settlement. The Operational Creditor then sought permission from the NCLT Ahmedabad Bench to withdraw the insolvency petition, CP(IB) 161 of 2020. The court granted this permission, allowing the withdrawal of the petition but with the condition that the Operational Creditor could revive the petition if the settlement failed. Mr. Pavan Godiawala represented the Operational Creditor, and Mr. Ravi Pahwa represented the Corporate Debtor.
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Hearing conducted through video conferencing…
Learned Counsel of the Operational Creditor…
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The case pertains to CP(IB) 161 of 2020 before the Ahmedabad Bench of the National Company Law Tribunal. The hearing was conducted through video conferencing. The Operational Creditor sought permission to withdraw the IB petition as the matter was settled between the parties.
The Operational Creditor filed an insolvency petition against the Corporate Debtor. Subsequently, the parties reached a settlement. The Operational Creditor then sought permission from the NCLT Ahmedabad Bench to withdraw the insolvency petition, CP(IB) 161 of 2020. The court granted this permission, allowing the withdrawal of the petition but with the condition that the Operational Creditor could revive the petition if the settlement failed. Mr. Pavan Godiawala represented the Operational Creditor, and Mr. Ravi Pahwa represented the Corporate Debtor.
Hearing conducted through video conferencing…
Learned Counsel of the Operational Creditor…
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