The case involves Kotak Mahindra Bank Limited versus Mauria Udyog Ltd. It appears to be related to an insolvency proceeding under Section 7 of the IBC. The counsels for both the petitioner and the respondent are present. A settlement has been reached between the parties.
Kotak Mahindra Bank Limited initiated a case against Mauria Udyog Ltd under the IBC, specifically Section 7. During the proceedings, both parties reached a settlement. Consequently, the counsel for the applicant requested the court's permission to withdraw the petition. The court acknowledged the settlement and granted the request, dismissing the petition. Additionally, an application, IA(I.B.C)/1070(KB)2023, was also dismissed as infructuous, likely because it was related to the main petition that was withdrawn.
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Hearing held on…
The case involves Kotak Mahindra Bank Limited versus Mauria Udyog Ltd. It appears to be related to an insolvency proceeding under Section 7 of the IBC. The counsels for both the petitioner and the respondent are present. A settlement has been reached between the parties.
Kotak Mahindra Bank Limited initiated a case against Mauria Udyog Ltd under the IBC, specifically Section 7. During the proceedings, both parties reached a settlement. Consequently, the counsel for the applicant requested the court's permission to withdraw the petition. The court acknowledged the settlement and granted the request, dismissing the petition. Additionally, an application, IA(I.B.C)/1070(KB)2023, was also dismissed as infructuous, likely because it was related to the main petition that was withdrawn.
Hearing held on…