The present application, IA No.2010/2024, was filed under Section 12-A of the IBC for withdrawal of the main petition based on a settlement between the parties. The learned counsel for the IRP stated that the CoC had not been constituted and all expenses of the RP have been paid by the petitioner. The matter was stated to be settled for Rs. 2,75,00,000/- as per the settlement agreement dated 14.09.2024, a copy of which was annexed as Annexure A-3.
Trade Perfections filed a petition against H.R. Power Projects Pvt. Ltd. under the IBC. IA No.2010/2024 was filed by Trade Perfections under Section 12-A of the IBC seeking withdrawal of the main petition, CP(IB) No. 170/Chd/Pb/2020, based on a settlement between the parties. The settlement involved a payment of Rs. 2,75,00,000/- by Trade Perfections to H.R. Power Projects Pvt. Ltd. The IRP's counsel stated that the CoC had not been constituted, and the petitioner had paid all expenses of the RP. The settlement agreement was dated 14.09.2024. The application IA No.2010/2024 was allowed, and CP(IB) No. 170/Chd/Pb/2020 was dismissed as withdrawn. A moratorium under Section 14 was in effect, and upon withdrawal, the corporate debtor was discharged from claims, the RP was
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Settlement agreement…
Order delivered on 25.09.2024 allowing IA…
The present application, IA No.2010/2024, was filed under Section 12-A of the IBC for withdrawal of the main petition based on a settlement between the parties. The learned counsel for the IRP stated that the CoC had not been constituted and all expenses of the RP have been paid by the petitioner. The matter was stated to be settled for Rs. 2,75,00,000/- as per the settlement agreement dated 14.09.2024, a copy of which was annexed as Annexure A-3.
Trade Perfections filed a petition against H.R. Power Projects Pvt. Ltd. under the IBC. IA No.2010/2024 was filed by Trade Perfections under Section 12-A of the IBC seeking withdrawal of the main petition, CP(IB) No. 170/Chd/Pb/2020, based on a settlement between the parties. The settlement involved a payment of Rs. 2,75,00,000/- by Trade Perfections to H.R. Power Projects Pvt. Ltd. The IRP's counsel stated that the CoC had not been constituted, and the petitioner had paid all expenses of the RP. The settlement agreement was dated 14.09.2024. The application IA No.2010/2024 was allowed, and CP(IB) No. 170/Chd/Pb/2020 was dismissed as withdrawn. A moratorium under Section 14 was in effect, and upon withdrawal, the corporate debtor was discharged from claims, the RP was
…Settlement agreement…
Order delivered on 25.09.2024 allowing IA…