The present application was filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) 2016 for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) and the main petition bearing No. 176/Chd/Pb/2019. A settlement agreement was placed on record as Annexure A3 dated 30.01.2023.
Sakshi Conbuild Pvt. Ltd. filed a petition against Gill Acqua Hydro Power Generation Company Pvt. Ltd. under the IBC. The parties reached a settlement agreement, which was placed on record. The petitioner sought to withdraw the CIRP. The NCLT considered the settlement agreement and the submissions of the parties' counsels. The application for withdrawal was allowed, the CIRP was terminated, the moratorium was lifted, and the corporate debtor was discharged from claims.
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Settlement agreement…
Order passed a…
The present application was filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) 2016 for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) and the main petition bearing No. 176/Chd/Pb/2019. A settlement agreement was placed on record as Annexure A3 dated 30.01.2023.
Sakshi Conbuild Pvt. Ltd. filed a petition against Gill Acqua Hydro Power Generation Company Pvt. Ltd. under the IBC. The parties reached a settlement agreement, which was placed on record. The petitioner sought to withdraw the CIRP. The NCLT considered the settlement agreement and the submissions of the parties' counsels. The application for withdrawal was allowed, the CIRP was terminated, the moratorium was lifted, and the corporate debtor was discharged from claims.
Settlement agreement…
Order passed a…