A petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The counsel for the petitioner, Mr. Sanjay Kumar Ruia, appeared through virtual hearing and informed the court that he has received Rs. 2,64,990/- lakhs from the corporate debtor, which includes the principal amount and interest up to the date of filing the company petition. He requested time to withdraw the petition as he was to receive pendente lite interest.
A V Contractors & Engineers Pvt Ltd filed a petition against Vijay Group Housing Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the hearing on 26.07.2021, the petitioner's counsel, Mr. Sanjay Kumar Ruia, informed the court that the corporate debtor had paid Rs. 2,64,990/- lakhs, covering the principal and interest up to the petition filing date. The counsel requested time to withdraw the petition, expecting further 'pendente lite' interest. The court rejected this request, and the petition was disposed of as withdrawn. The payment from the corporate debtor is a key fact, influencing the petitioner's withdrawal request and the court's decision.
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Hearing of the Mumbai Bench of the National…
A petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The counsel for the petitioner, Mr. Sanjay Kumar Ruia, appeared through virtual hearing and informed the court that he has received Rs. 2,64,990/- lakhs from the corporate debtor, which includes the principal amount and interest up to the date of filing the company petition. He requested time to withdraw the petition as he was to receive pendente lite interest.
A V Contractors & Engineers Pvt Ltd filed a petition against Vijay Group Housing Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the hearing on 26.07.2021, the petitioner's counsel, Mr. Sanjay Kumar Ruia, informed the court that the corporate debtor had paid Rs. 2,64,990/- lakhs, covering the principal and interest up to the petition filing date. The counsel requested time to withdraw the petition, expecting further 'pendente lite' interest. The court rejected this request, and the petition was disposed of as withdrawn. The payment from the corporate debtor is a key fact, influencing the petitioner's withdrawal request and the court's decision.
Hearing of the Mumbai Bench of the National…