The case involves an application under the Insolvency and Bankruptcy Code (IBC). A memo was filed stating that the corporate debtor had settled the outstanding amount under OTS (One Time Settlement). Consequently, the financial creditor sought to withdraw the application.
Central Bank of India filed an application (IBA/404/2020) against Aban Offshore Ltd under Section 7 of the IBC, 2016. During the proceedings, a memo was filed on 2022-09-06 stating that Aban Offshore Ltd had settled the outstanding amount under a One Time Settlement (OTS) with Central Bank of India. As a result, Central Bank of India requested the NCLT to dismiss the application as withdrawn. The NCLT took the memo on record and dismissed the application.
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A memo was filed stating that the corporate…
The NCLT dismissed the application as…
The case involves an application under the Insolvency and Bankruptcy Code (IBC). A memo was filed stating that the corporate debtor had settled the outstanding amount under OTS (One Time Settlement). Consequently, the financial creditor sought to withdraw the application.
Central Bank of India filed an application (IBA/404/2020) against Aban Offshore Ltd under Section 7 of the IBC, 2016. During the proceedings, a memo was filed on 2022-09-06 stating that Aban Offshore Ltd had settled the outstanding amount under a One Time Settlement (OTS) with Central Bank of India. As a result, Central Bank of India requested the NCLT to dismiss the application as withdrawn. The NCLT took the memo on record and dismissed the application.
A memo was filed stating that the corporate…
The NCLT dismissed the application as…