The case involves an application (IA-4263/2021) filed by the Original Applicant-Financial Creditor seeking directions in terms of Section 7 of the Insolvency and Bankruptcy Code (IBC). A settlement was reached between the parties, documented in an Addendum to the Memorandum of Understanding (MoU) dated 2022-01-04. The original MoU was dated 2019-04-22. The applicant sought to withdraw the application based on the settlement.
Tej Mohan Sachdev, the applicant/petitioner, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Fantasy Buildwell Pvt. Ltd., the respondent. During the proceedings, the parties reached a settlement, documented in an Addendum to the Memorandum of Understanding dated 2022-01-04. The original Memorandum of Understanding was dated 2019-04-22. Based on this settlement, the applicant sought to withdraw IA-4263/2021, an application filed in connection with the main petition. The court considered the settlement and allowed the withdrawal, closing both the application and the main petition CP (IB)-481(PB)/2019. The addendum to the memorandum of understanding was forwarded to the tribunal.
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The case involves an application (IA-4263/2021) filed by the Original Applicant-Financial Creditor seeking directions in terms of Section 7 of the Insolvency and Bankruptcy Code (IBC). A settlement was reached between the parties, documented in an Addendum to the Memorandum of Understanding (MoU) dated 2022-01-04. The original MoU was dated 2019-04-22. The applicant sought to withdraw the application based on the settlement.
Tej Mohan Sachdev, the applicant/petitioner, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Fantasy Buildwell Pvt. Ltd., the respondent. During the proceedings, the parties reached a settlement, documented in an Addendum to the Memorandum of Understanding dated 2022-01-04. The original Memorandum of Understanding was dated 2019-04-22. Based on this settlement, the applicant sought to withdraw IA-4263/2021, an application filed in connection with the main petition. The court considered the settlement and allowed the withdrawal, closing both the application and the main petition CP (IB)-481(PB)/2019. The addendum to the memorandum of understanding was forwarded to the tribunal.
The original Memorandum…
The parties entered into an Addendum to the…
Sign in to view related legal provisions.