This case involves an application filed by Mars Petrochem Private Ltd., an Operational Creditor, seeking withdrawal of an application admitted under Section 9 of the Insolvency & Bankruptcy Code, 2016 ('Code'). The application for withdrawal was filed pursuant to a full and final settlement of the claim admitted in the Section 9 petition. The Respondent, Valecha Piletech Infra Private Limited, agreed to pay ₹5,30,000 to the Applicant.
Mars Petrochem Private Ltd., an operational creditor, initiated insolvency proceedings against Valecha Piletech Infra Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted by the NCLT. Subsequently, Mars Petrochem Private Ltd. filed an application (MA 790/2019) to withdraw the insolvency application based on a settlement reached with Valecha Piletech Infra Private Limited. Valecha Piletech Infra Private Limited agreed to pay ₹5,30,000 to Mars Petrochem Private Ltd. as part of the settlement. The application for withdrawal was filed before the constitution of the Committee of Creditors (CoC). The payment was made via Pay Order No. 015035 dated 26.02.2019 drawn upon HDFC Bank.
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Order passed admitting…
Pay Order bearing No.…
This case involves an application filed by Mars Petrochem Private Ltd., an Operational Creditor, seeking withdrawal of an application admitted under Section 9 of the Insolvency & Bankruptcy Code, 2016 ('Code'). The application for withdrawal was filed pursuant to a full and final settlement of the claim admitted in the Section 9 petition. The Respondent, Valecha Piletech Infra Private Limited, agreed to pay ₹5,30,000 to the Applicant.
Mars Petrochem Private Ltd., an operational creditor, initiated insolvency proceedings against Valecha Piletech Infra Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted by the NCLT. Subsequently, Mars Petrochem Private Ltd. filed an application (MA 790/2019) to withdraw the insolvency application based on a settlement reached with Valecha Piletech Infra Private Limited. Valecha Piletech Infra Private Limited agreed to pay ₹5,30,000 to Mars Petrochem Private Ltd. as part of the settlement. The application for withdrawal was filed before the constitution of the Committee of Creditors (CoC). The payment was made via Pay Order No. 015035 dated 26.02.2019 drawn upon HDFC Bank.
Order passed admitting…
Pay Order bearing No.…