The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. IIFL Home Finance Ltd., the financial creditor, initiated proceedings against Sanga Automobiles Pvt. Ltd., the corporate debtor. The matter was presented before the Jaipur Bench of the National Company Law Tribunal (NCLT) through video conferencing.
IIFL Home Finance Ltd. filed a petition against Sanga Automobiles Pvt. Ltd. under Section 7 of the IBC, 2016. The case was heard by the Jaipur Bench of the NCLT. Akshat Kulshreshtha, Advocate, appeared on behalf of the financial creditor and submitted that the matter had been settled amicably between the parties. The financial creditor wished to withdraw the petition. The NCLT granted permission for the withdrawal, and the petition was dismissed as withdrawn. The key fact is the amicable settlement leading to the withdrawal of the insolvency petition.
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CP No. (IB)-14/7/JPR/202…
The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. IIFL Home Finance Ltd., the financial creditor, initiated proceedings against Sanga Automobiles Pvt. Ltd., the corporate debtor. The matter was presented before the Jaipur Bench of the National Company Law Tribunal (NCLT) through video conferencing.
IIFL Home Finance Ltd. filed a petition against Sanga Automobiles Pvt. Ltd. under Section 7 of the IBC, 2016. The case was heard by the Jaipur Bench of the NCLT. Akshat Kulshreshtha, Advocate, appeared on behalf of the financial creditor and submitted that the matter had been settled amicably between the parties. The financial creditor wished to withdraw the petition. The NCLT granted permission for the withdrawal, and the petition was dismissed as withdrawn. The key fact is the amicable settlement leading to the withdrawal of the insolvency petition.
CP No. (IB)-14/7/JPR/202…