ABB India Ltd, the Operational Creditor, filed CP(IB) No.715/9/HDB/2019 against Annapurna Constructions and Transmissions Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. During the proceedings before the National Company Law Tribunal (NCLT), Hyderabad Bench – 1, both parties informed the tribunal that they had reached a settlement outside of the tribunal. A joint memo reporting this settlement was filed. Consequently, both counsels requested the tribunal to dispose of the Corporate Insolvency Resolution Process (CIRP) application.

ABB India Ltd, the Operational Creditor, filed CP(IB) No.715/9/HDB/2019 against Annapurna Constructions and Transmissions Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. During the proceedings before the National Company Law Tribunal (NCLT), Hyderabad Bench – 1, both parties informed the tribunal that they had reached a settlement outside of the tribunal. A joint memo reporting this settlement was filed. Consequently, both counsels requested the tribunal to dispose of the Corporate Insolvency Resolution Process (CIRP) application.