The case involves a restoration application (R.A (IBC)/153/2023) filed by Jatalia Global Ventures Limited ('applicant/operational creditor') to revive a previously withdrawn Company Petition (C.P.(IB)/1456/ND/2018) against Gokul Exim Private Limited ('Corporate Debtor'). The initial petition was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt. However, before the admission of the initial application, the applicant and corporate debtor entered into a settlement agreement dated 15.09.2021, wherein the corporate debtor agreed to pay a sum of Rs.1,54,00,000/- on or before 31.12.2021 against the total outstanding amount of Rs.
…M/s. Jatalia Global Ventures Limited ('applicant/operational creditor') filed C.P.(IB)/1456/ND/2018 under Section 9 of the IBC, 2016, against M/s. Gokul Exim Private Limited ('Corporate Debtor') due to default in payment of operational debt amounting to Rs.1,76,56,269/-. Before admission of the application, both parties entered into a settlement agreement dated 15.09.2021, wherein the Corporate Debtor agreed to pay Rs.1,54,00,000/- by 31.12.2021. Consequently, a joint application (I.A/4189/ND/2021) was filed to withdraw C.P.(IB)/1456/ND/2018, which was allowed on 20.09.2021. The Corporate Debtor allegedly failed to comply with the settlement agreement. The Applicant filed a restoration application (R.A (IBC)/153/2023) to revive C.P.(IB)/1456/ND/2018. The Corporate
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C.P.(IB)/1456/ND/2018…
Applicant and Corporate…
The case involves a restoration application (R.A (IBC)/153/2023) filed by Jatalia Global Ventures Limited ('applicant/operational creditor') to revive a previously withdrawn Company Petition (C.P.(IB)/1456/ND/2018) against Gokul Exim Private Limited ('Corporate Debtor'). The initial petition was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt. However, before the admission of the initial application, the applicant and corporate debtor entered into a settlement agreement dated 15.09.2021, wherein the corporate debtor agreed to pay a sum of Rs.1,54,00,000/- on or before 31.12.2021 against the total outstanding amount of Rs.
…M/s. Jatalia Global Ventures Limited ('applicant/operational creditor') filed C.P.(IB)/1456/ND/2018 under Section 9 of the IBC, 2016, against M/s. Gokul Exim Private Limited ('Corporate Debtor') due to default in payment of operational debt amounting to Rs.1,76,56,269/-. Before admission of the application, both parties entered into a settlement agreement dated 15.09.2021, wherein the Corporate Debtor agreed to pay Rs.1,54,00,000/- by 31.12.2021. Consequently, a joint application (I.A/4189/ND/2021) was filed to withdraw C.P.(IB)/1456/ND/2018, which was allowed on 20.09.2021. The Corporate Debtor allegedly failed to comply with the settlement agreement. The Applicant filed a restoration application (R.A (IBC)/153/2023) to revive C.P.(IB)/1456/ND/2018. The Corporate
…C.P.(IB)/1456/ND/2018…
Applicant and Corporate…