Canara Bank Limited filed a Company Petition against Atithi Builders and Constructors Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Financial Creditor sought to withdraw the petition as the matter was settled under OTS (One Time Settlement).
Canara Bank Limited initiated a corporate insolvency resolution process against Atithi Builders and Constructors Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The parties reached a settlement under the OTS scheme. The Financial Creditor sought to withdraw the company petition. The Financial Creditor also requested the liberty to revive the petition if the Corporate Debtor defaults on the OTS payments scheduled for October and November. The court disposed of the petition as withdrawn, granting the Financial Creditor the liberty to file a fresh petition in case of any breach of payment committed by the Corporate Debtor.
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Order sheet of the…
Canara Bank Limited filed a Company Petition against Atithi Builders and Constructors Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Financial Creditor sought to withdraw the petition as the matter was settled under OTS (One Time Settlement).
Canara Bank Limited initiated a corporate insolvency resolution process against Atithi Builders and Constructors Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The parties reached a settlement under the OTS scheme. The Financial Creditor sought to withdraw the company petition. The Financial Creditor also requested the liberty to revive the petition if the Corporate Debtor defaults on the OTS payments scheduled for October and November. The court disposed of the petition as withdrawn, granting the Financial Creditor the liberty to file a fresh petition in case of any breach of payment committed by the Corporate Debtor.
Order sheet of the…