The case pertains to proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC). Aditya Meruchem Pvt Ltd. is the applicant (Operational Creditor), and Lyka Labs Ltd is the respondent (Corporate Debtor). The Operational Creditor filed a petition under Section 9 of the IBC, C.P.(IB)/45(AHM)2021, before the National Company Law Tribunal (NCLT), Ahmedabad.
Aditya Meruchem Pvt Ltd., the Operational Creditor, initiated proceedings against Lyka Labs Ltd., the Corporate Debtor, under Section 9 of the IBC by filing C.P.(IB)/45(AHM)2021. During the proceedings, both parties submitted that they had settled the matter. The counsel for the Operational Creditor then filed a Withdrawal Pursis, requesting the tribunal to allow the withdrawal of the application. The key fact is the settlement between the parties, leading to the withdrawal of the insolvency application.
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The NCLT, Ahmedabad,…
The case pertains to proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC). Aditya Meruchem Pvt Ltd. is the applicant (Operational Creditor), and Lyka Labs Ltd is the respondent (Corporate Debtor). The Operational Creditor filed a petition under Section 9 of the IBC, C.P.(IB)/45(AHM)2021, before the National Company Law Tribunal (NCLT), Ahmedabad.
Aditya Meruchem Pvt Ltd., the Operational Creditor, initiated proceedings against Lyka Labs Ltd., the Corporate Debtor, under Section 9 of the IBC by filing C.P.(IB)/45(AHM)2021. During the proceedings, both parties submitted that they had settled the matter. The counsel for the Operational Creditor then filed a Withdrawal Pursis, requesting the tribunal to allow the withdrawal of the application. The key fact is the settlement between the parties, leading to the withdrawal of the insolvency application.
The NCLT, Ahmedabad,…