The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Nevaeh Technology Private Limited (Operational Creditor) against Kerala State Electronics Development Corporation Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The application was admitted on 21.01.2022, and a moratorium was declared under Section 14(1) of the IBC 2016. Subsequently, the parties entered into a settlement agreement on 26.01.2022.
Nevaeh Technology Private Limited, the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Kerala State Electronics Development Corporation Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 21.01.2022, leading to a moratorium. Prior to the order, the parties entered into a settlement agreement on 26.01.2022, wherein Keltron agreed to pay Rs. 1,27,55,150 in two installments and Rs. 2 lakhs out of Rs. 20,60,755. Nevaeh agreed to waive the interest portion of the claim. Keltron made a payment of Rs. 65,77,575 and provided a post-dated cheque for Rs. 63,77,575. Keltron also undertook to pay Rs. 18,60,755 upon receipt of funds from Kolkata Police. Nevaeh confirmed
…Sign in to view the parties.
The Tribunal admitted the application No.…
The parties entered…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Nevaeh Technology Private Limited (Operational Creditor) against Kerala State Electronics Development Corporation Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The application was admitted on 21.01.2022, and a moratorium was declared under Section 14(1) of the IBC 2016. Subsequently, the parties entered into a settlement agreement on 26.01.2022.
Nevaeh Technology Private Limited, the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Kerala State Electronics Development Corporation Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 21.01.2022, leading to a moratorium. Prior to the order, the parties entered into a settlement agreement on 26.01.2022, wherein Keltron agreed to pay Rs. 1,27,55,150 in two installments and Rs. 2 lakhs out of Rs. 20,60,755. Nevaeh agreed to waive the interest portion of the claim. Keltron made a payment of Rs. 65,77,575 and provided a post-dated cheque for Rs. 63,77,575. Keltron also undertook to pay Rs. 18,60,755 upon receipt of funds from Kolkata Police. Nevaeh confirmed
…The Tribunal admitted the application No.…
The parties entered…