The case pertains to a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Financial Creditor and the Corporate Debtor reached a settlement, leading the counsel to request withdrawal of the petition.
State Bank of India filed a petition against Uttam Galva Steels Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the Financial Creditor (State Bank of India) and the Corporate Debtor (Uttam Galva Steels Ltd) reached a settlement. Consequently, the counsel representing both parties requested the court to allow the withdrawal of the petition. The court acknowledged the settlement and granted permission for the withdrawal. As a result, the petition was dismissed as withdrawn.
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The case pertains to a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Financial Creditor and the Corporate Debtor reached a settlement, leading the counsel to request withdrawal of the petition.
State Bank of India filed a petition against Uttam Galva Steels Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the Financial Creditor (State Bank of India) and the Corporate Debtor (Uttam Galva Steels Ltd) reached a settlement. Consequently, the counsel representing both parties requested the court to allow the withdrawal of the petition. The court acknowledged the settlement and granted permission for the withdrawal. As a result, the petition was dismissed as withdrawn.
Hearing of the Mumbai…
Sign in to view related legal provisions.