The case involves an application (IA 1291/2022) seeking permission to withdraw a Corporate Insolvency Resolution Process (CIRP) application (CP (IB) 4265 of 2019). The applicant contends that the issues have been settled between the parties, and the settlement terms are enclosed with the application.
Isgec Heavy Engineering Ltd filed a Corporate Insolvency Resolution Process (CIRP) application (CP (IB) 4265 of 2019) against Pradas Sugar and Allied Agro Products Limited. Subsequently, IA 1291/2022 was filed seeking permission to withdraw the CIRP application, citing a settlement between the parties. The settlement terms were submitted to the court, and it was stated that the Corporate Debtor, Pradas Sugar and Allied Agro Products Limited, had paid the agreed-upon sum. The relevance of these facts lies in the court's decision to allow the withdrawal of the CIRP application based on the settlement and the Corporate Debtor's compliance with its terms.
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CP (IB) 4265…
Hearing of Mumbai Bench…
The case involves an application (IA 1291/2022) seeking permission to withdraw a Corporate Insolvency Resolution Process (CIRP) application (CP (IB) 4265 of 2019). The applicant contends that the issues have been settled between the parties, and the settlement terms are enclosed with the application.
Isgec Heavy Engineering Ltd filed a Corporate Insolvency Resolution Process (CIRP) application (CP (IB) 4265 of 2019) against Pradas Sugar and Allied Agro Products Limited. Subsequently, IA 1291/2022 was filed seeking permission to withdraw the CIRP application, citing a settlement between the parties. The settlement terms were submitted to the court, and it was stated that the Corporate Debtor, Pradas Sugar and Allied Agro Products Limited, had paid the agreed-upon sum. The relevance of these facts lies in the court's decision to allow the withdrawal of the CIRP application based on the settlement and the Corporate Debtor's compliance with its terms.
CP (IB) 4265…
Hearing of Mumbai Bench…