Sakthi Containers Private Limited filed a petition (IBA/1352/2019) against Bnazrum Agro Exports Limited under Section 9 Rule 6 of the IBC 2016. The case was heard by the Chennai Bench of the National Company Law Tribunal (NCLT). During the proceedings, the parties arrived at a settlement. Bnazrum Agro Exports Limited agreed to pay Sakthi Containers Private Limited a sum of Rs. 37,09,580/- plus Rs. 7,50,000/- as interest, totaling Rs. 44,59,580/-, to fully satisfy the claim. A Joint Compromise & Settlement Memo was signed by both parties and their counsels. The court took the settlement memo on record. The relevance of these facts is that they demonstrate the resolution of a debt dispute through mutual agreement and the subsequent dismissal of the insolvency petition.

Sakthi Containers Private Limited filed a petition (IBA/1352/2019) against Bnazrum Agro Exports Limited under Section 9 Rule 6 of the IBC 2016. The case was heard by the Chennai Bench of the National Company Law Tribunal (NCLT). During the proceedings, the parties arrived at a settlement. Bnazrum Agro Exports Limited agreed to pay Sakthi Containers Private Limited a sum of Rs. 37,09,580/- plus Rs. 7,50,000/- as interest, totaling Rs. 44,59,580/-, to fully satisfy the claim. A Joint Compromise & Settlement Memo was signed by both parties and their counsels. The court took the settlement memo on record. The relevance of these facts is that they demonstrate the resolution of a debt dispute through mutual agreement and the subsequent dismissal of the insolvency petition.