The case involves an application filed under Rule 8 of IB (Application to Adjudicating Authority) Rules, 2016, seeking withdrawal of a matter. The Financial Creditors and the Corporate Debtor have settled the matters before the Delhi High Court Mediation Centre. Two settlement agreements exist: one dated 2022-06-29 between Financial Creditor No. 1 (Niraj Jain) and the Corporate Debtor, and another dated 2022-07-28 between Financial Creditors No. 2 and 3 and the Corporate Debtor.
Mr. Niraj Jain and others filed a petition against M/s. Almond Infrabuild Pvt. Ltd. under Section 7 of the IB Code, 2016. The Financial Creditors and the Corporate Debtor reached a settlement before the Delhi High Court Mediation Centre. Two settlement agreements were executed: one between Financial Creditor No. 1 (Niraj Jain) and the Corporate Debtor, dated 2022-06-29, and another between Financial Creditors No. 2 and 3 and the Corporate Debtor, dated 2022-07-28. The settlement agreements contain a clause stating that if the agreement becomes null and void due to actions/inactions of the second party (Corporate Debtor), the First Party (Niraj Jain) retains the right to revive the proceedings. The Applicants requested the opportunity to revive the petition if the
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Settlement Agreement dated 2022-06-29 executed…
Settlement Agreement dated 2022-07-28 executed…
The case involves an application filed under Rule 8 of IB (Application to Adjudicating Authority) Rules, 2016, seeking withdrawal of a matter. The Financial Creditors and the Corporate Debtor have settled the matters before the Delhi High Court Mediation Centre. Two settlement agreements exist: one dated 2022-06-29 between Financial Creditor No. 1 (Niraj Jain) and the Corporate Debtor, and another dated 2022-07-28 between Financial Creditors No. 2 and 3 and the Corporate Debtor.
Mr. Niraj Jain and others filed a petition against M/s. Almond Infrabuild Pvt. Ltd. under Section 7 of the IB Code, 2016. The Financial Creditors and the Corporate Debtor reached a settlement before the Delhi High Court Mediation Centre. Two settlement agreements were executed: one between Financial Creditor No. 1 (Niraj Jain) and the Corporate Debtor, dated 2022-06-29, and another between Financial Creditors No. 2 and 3 and the Corporate Debtor, dated 2022-07-28. The settlement agreements contain a clause stating that if the agreement becomes null and void due to actions/inactions of the second party (Corporate Debtor), the First Party (Niraj Jain) retains the right to revive the proceedings. The Applicants requested the opportunity to revive the petition if the
…Settlement Agreement dated 2022-06-29 executed…
Settlement Agreement dated 2022-07-28 executed…