The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Premier Power Products (Calcutta) Pvt Ltd, the Operational Creditor, against Tata Projects Limited, the Corporate Debtor. The Operational Creditor sought to initiate corporate insolvency resolution process against the Corporate Debtor.
Premier Power Products (Calcutta) Pvt Ltd, the Operational Creditor, initiated proceedings against Tata Projects Limited, the Corporate Debtor, under Section 9 of the IBC, 2016. The Operational Creditor subsequently filed a memo seeking to withdraw the petition, stating that the matter had been settled out of court. The Corporate Debtor's counsel confirmed the settlement. The Tribunal then considered the submissions and the memo.
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Hearing held on…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Premier Power Products (Calcutta) Pvt Ltd, the Operational Creditor, against Tata Projects Limited, the Corporate Debtor. The Operational Creditor sought to initiate corporate insolvency resolution process against the Corporate Debtor.
Premier Power Products (Calcutta) Pvt Ltd, the Operational Creditor, initiated proceedings against Tata Projects Limited, the Corporate Debtor, under Section 9 of the IBC, 2016. The Operational Creditor subsequently filed a memo seeking to withdraw the petition, stating that the matter had been settled out of court. The Corporate Debtor's counsel confirmed the settlement. The Tribunal then considered the submissions and the memo.
Hearing held on…