IA 1129/2020 was filed by Vikas Shuttering Store Private Limited (Operational Creditor) seeking revival of CP (IB) No. 4752/MB-VI/2018, which was initially admitted on 30.09.2019 but later withdrawn due to a settlement agreement (Consent Terms) dated 05.10.2019. IA 4502/2023 was filed by Supreme Infrastructure India Limited (Corporate Debtor) seeking a declaration that the Consent Terms were modified by a Scheme of Compromise and Arrangement approved on 16.06.2022, and also praying for rejection of IA 1129/2020.
Vikas Shuttering Store Private Limited (Operational Creditor) filed IA 1129/2020 seeking revival of CP (IB) No. 4752/MB-VI/2018 against Supreme Infrastructure India Limited (Corporate Debtor). The initial application was admitted on 30.09.2019 for a default amount of Rs. 14,26,91,442/-, but later withdrawn after a settlement was reached between the parties, resulting in Consent Terms dated 05.10.2019. The Corporate Debtor agreed to pay Rs. 9,50,00,000/- to the Operational Creditor, with an initial payment of Rs. 1,50,00,000/- made. The Operational Creditor claimed that the Corporate Debtor breached the Consent Terms, leading to dishonored cheques. The Corporate Debtor argued that the Consent Terms were modified by a Scheme of Compromise and Arrangement approved by the
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Main Appl…
Main Application…
IA 1129/2020 was filed by Vikas Shuttering Store Private Limited (Operational Creditor) seeking revival of CP (IB) No. 4752/MB-VI/2018, which was initially admitted on 30.09.2019 but later withdrawn due to a settlement agreement (Consent Terms) dated 05.10.2019. IA 4502/2023 was filed by Supreme Infrastructure India Limited (Corporate Debtor) seeking a declaration that the Consent Terms were modified by a Scheme of Compromise and Arrangement approved on 16.06.2022, and also praying for rejection of IA 1129/2020.
Vikas Shuttering Store Private Limited (Operational Creditor) filed IA 1129/2020 seeking revival of CP (IB) No. 4752/MB-VI/2018 against Supreme Infrastructure India Limited (Corporate Debtor). The initial application was admitted on 30.09.2019 for a default amount of Rs. 14,26,91,442/-, but later withdrawn after a settlement was reached between the parties, resulting in Consent Terms dated 05.10.2019. The Corporate Debtor agreed to pay Rs. 9,50,00,000/- to the Operational Creditor, with an initial payment of Rs. 1,50,00,000/- made. The Operational Creditor claimed that the Corporate Debtor breached the Consent Terms, leading to dishonored cheques. The Corporate Debtor argued that the Consent Terms were modified by a Scheme of Compromise and Arrangement approved by the
…Main Appl…
Main Application…