The case involves an application under the Insolvency and Bankruptcy Code (IBC), specifically Section 7 Rule 4, filed by Central Bank of India against Aban Offshore Ltd. The application was filed as IBA/404/2020. During the proceedings, a memo was filed stating that the corporate debtor, Aban Offshore Ltd, had settled the outstanding amount under a One-Time Settlement (OTS) scheme. Consequently, the financial creditor, Central Bank of India, sought to withdraw the application.
Central Bank of India filed an application (IBA/404/2020) against Aban Offshore Ltd under Section 7 Rule 4 of the Insolvency and Bankruptcy Code (IBC), 2016. During the proceedings, a memo (S.R.No.5332 dated 06.09.2022) was filed stating that Aban Offshore Ltd, the corporate debtor, had settled the outstanding amount under a One-Time Settlement (OTS) scheme. As a result of this settlement, Central Bank of India, the financial creditor, sought to withdraw the application. The NCLT considered the memo and the request for withdrawal.
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A memo (S.R.No.5332) was filed stating that…
Hearing held on…
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The case involves an application under the Insolvency and Bankruptcy Code (IBC), specifically Section 7 Rule 4, filed by Central Bank of India against Aban Offshore Ltd. The application was filed as IBA/404/2020. During the proceedings, a memo was filed stating that the corporate debtor, Aban Offshore Ltd, had settled the outstanding amount under a One-Time Settlement (OTS) scheme. Consequently, the financial creditor, Central Bank of India, sought to withdraw the application.
Central Bank of India filed an application (IBA/404/2020) against Aban Offshore Ltd under Section 7 Rule 4 of the Insolvency and Bankruptcy Code (IBC), 2016. During the proceedings, a memo (S.R.No.5332 dated 06.09.2022) was filed stating that Aban Offshore Ltd, the corporate debtor, had settled the outstanding amount under a One-Time Settlement (OTS) scheme. As a result of this settlement, Central Bank of India, the financial creditor, sought to withdraw the application. The NCLT considered the memo and the request for withdrawal.
A memo (S.R.No.5332) was filed stating that…
Hearing held on…
Sign in to view related legal provisions.