The case involves an application to restore a Company Petition and revive the Corporate Insolvency Resolution Process (CIRP) against Super Shine Agrofoods Pvt. Ltd. due to a breach of a settlement agreement. Initially, the CIRP was admitted, but a Memorandum of Understanding (MoU) was executed where the Corporate Debtor agreed to pay outstanding dues. An Interlocutory Application was filed to withdraw the main petition based on this settlement. However, the Corporate Debtor defaulted on the terms of the MoU, leading the Operational Creditor to file the present application to restore the CIRP.
Ankit Traders, through its proprietor Ankit Kumar Goel, filed a Company Petition (CP No. (IB)-17/9/JPR/2022) against Super Shine Agrofoods Pvt. Ltd. The petition was initially admitted, leading to the commencement of CIRP. Subsequently, a Memorandum of Understanding (MoU) was executed between Ankit Traders and Super Shine Agrofoods Pvt. Ltd., where Super Shine Agrofoods agreed to pay Rs. 1,85,00,000/- to Ankit Traders. Based on this MoU, an Interlocutory Application (I.A. No. 458/JPR/2023) was filed to withdraw the Company Petition, which was allowed. Super Shine Agrofoods paid Rs. 50,00,000/- but failed to pay the remaining Rs. 1,35,00,000/- or transfer property as agreed in the MoU. Ankit Traders then filed an appeal against the order, which was partly allowed by
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Company Petition No. (IB)-17/9/JPR/2022…
The Insolvency Petition under Section 9 of…
The case involves an application to restore a Company Petition and revive the Corporate Insolvency Resolution Process (CIRP) against Super Shine Agrofoods Pvt. Ltd. due to a breach of a settlement agreement. Initially, the CIRP was admitted, but a Memorandum of Understanding (MoU) was executed where the Corporate Debtor agreed to pay outstanding dues. An Interlocutory Application was filed to withdraw the main petition based on this settlement. However, the Corporate Debtor defaulted on the terms of the MoU, leading the Operational Creditor to file the present application to restore the CIRP.
Ankit Traders, through its proprietor Ankit Kumar Goel, filed a Company Petition (CP No. (IB)-17/9/JPR/2022) against Super Shine Agrofoods Pvt. Ltd. The petition was initially admitted, leading to the commencement of CIRP. Subsequently, a Memorandum of Understanding (MoU) was executed between Ankit Traders and Super Shine Agrofoods Pvt. Ltd., where Super Shine Agrofoods agreed to pay Rs. 1,85,00,000/- to Ankit Traders. Based on this MoU, an Interlocutory Application (I.A. No. 458/JPR/2023) was filed to withdraw the Company Petition, which was allowed. Super Shine Agrofoods paid Rs. 50,00,000/- but failed to pay the remaining Rs. 1,35,00,000/- or transfer property as agreed in the MoU. Ankit Traders then filed an appeal against the order, which was partly allowed by
…Company Petition No. (IB)-17/9/JPR/2022…
The Insolvency Petition under Section 9 of…