The case involves an IA (Interlocutory Application) filed by the Corporate Debtor under Section 60(5) r/w Section 66 of the IBC, 2016, seeking the dismissal of a CP (Company Petition). The Corporate Debtor argues that the Financial Creditor/Respondent No. 4, Nanda Paike Kumari, entered into a Settlement Agreement with a sister concern, Siddharth Enterprises, and her claim was settled. The Corporate Debtor alleges that Respondent No. 4 suppressed this agreement from the Tribunal and committed perjury by intending to invoke CIRP against the Corporate Debtor with malicious intent. The applicant (Corporate Debtor) claims that R-4 had invested Rs.50,00,000/- in NCDs of the Corporate Debtor and had approached the police in Bengaluru to register an FIR against the Corporate
…Nanda Paike Kumari (R-4), the Financial Creditor, filed a Company Petition (CP) against DDK Infratech Private Limited, the Corporate Debtor. The Corporate Debtor filed an IA (IA 1879/2023) seeking dismissal of the CP, arguing that Nanda Paike Kumari had entered into a settlement agreement with Siddharth Enterprises, a sister concern of the Corporate Debtor, and that her claim had been settled. The Corporate Debtor alleged that Nanda Paike Kumari suppressed this agreement from the Tribunal and committed perjury. Nanda Paike Kumari had invested Rs. 50,00,000 in NCDs of the Corporate Debtor. She had also filed a police complaint in Bengaluru against the Corporate Debtor, leading to the freezing of the Corporate Debtor's accounts. A settlement agreement was executed on
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R-4 residing in Bengaluru had approached the…
R-4 and the Corporate Debtor had entered and…
The case involves an IA (Interlocutory Application) filed by the Corporate Debtor under Section 60(5) r/w Section 66 of the IBC, 2016, seeking the dismissal of a CP (Company Petition). The Corporate Debtor argues that the Financial Creditor/Respondent No. 4, Nanda Paike Kumari, entered into a Settlement Agreement with a sister concern, Siddharth Enterprises, and her claim was settled. The Corporate Debtor alleges that Respondent No. 4 suppressed this agreement from the Tribunal and committed perjury by intending to invoke CIRP against the Corporate Debtor with malicious intent. The applicant (Corporate Debtor) claims that R-4 had invested Rs.50,00,000/- in NCDs of the Corporate Debtor and had approached the police in Bengaluru to register an FIR against the Corporate
…Nanda Paike Kumari (R-4), the Financial Creditor, filed a Company Petition (CP) against DDK Infratech Private Limited, the Corporate Debtor. The Corporate Debtor filed an IA (IA 1879/2023) seeking dismissal of the CP, arguing that Nanda Paike Kumari had entered into a settlement agreement with Siddharth Enterprises, a sister concern of the Corporate Debtor, and that her claim had been settled. The Corporate Debtor alleged that Nanda Paike Kumari suppressed this agreement from the Tribunal and committed perjury. Nanda Paike Kumari had invested Rs. 50,00,000 in NCDs of the Corporate Debtor. She had also filed a police complaint in Bengaluru against the Corporate Debtor, leading to the freezing of the Corporate Debtor's accounts. A settlement agreement was executed on
…R-4 residing in Bengaluru had approached the…
R-4 and the Corporate Debtor had entered and…