This is a Restoration Application filed by Rawmet Resources Private Limited ('Operational Creditor') for revival of its petition C.P. (IB) No.09/KB/2018 against The Durgapur Projects Limited ('Corporate Debtor'). The Operational Creditor had initiated a proceeding under Section 9 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor. During the pendency of the proceedings, the Corporate Debtor admitted that a sum of Rs.2,62,85,211/- is due and payable to the Operational Creditor. The Corporate Debtor requested to waive a sum of Rs.49,65,768/- and represented that a sum of Rs.2,13,19,443/- shall be paid in six equal monthly installments. Terms of settlement were entered into between the parties.
Rawmet Resources Private Limited (Operational Creditor) filed a Restoration Application to revive its petition C.P. (IB) No.09/KB/2018 against The Durgapur Projects Limited (Corporate Debtor). The Operational Creditor had initiated proceedings under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the Corporate Debtor admitted to owing Rs.2,62,85,211/- to the Operational Creditor. The Corporate Debtor requested a waiver of Rs.49,65,768/- and proposed paying Rs.2,13,19,443/- in six equal monthly installments, leading to a settlement agreement. On 05 April, 2018, the Operational Creditor's counsel was absent, and the Corporate Debtor's counsel stated the matter was settled. The Adjudicating Authority dismissed the petition for lack of
…Sign in to view the parties.
Adjudicating Authority recorded that 'Nobody…
The Assistant Commissioner, CGST,…
This is a Restoration Application filed by Rawmet Resources Private Limited ('Operational Creditor') for revival of its petition C.P. (IB) No.09/KB/2018 against The Durgapur Projects Limited ('Corporate Debtor'). The Operational Creditor had initiated a proceeding under Section 9 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor. During the pendency of the proceedings, the Corporate Debtor admitted that a sum of Rs.2,62,85,211/- is due and payable to the Operational Creditor. The Corporate Debtor requested to waive a sum of Rs.49,65,768/- and represented that a sum of Rs.2,13,19,443/- shall be paid in six equal monthly installments. Terms of settlement were entered into between the parties.
Rawmet Resources Private Limited (Operational Creditor) filed a Restoration Application to revive its petition C.P. (IB) No.09/KB/2018 against The Durgapur Projects Limited (Corporate Debtor). The Operational Creditor had initiated proceedings under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the Corporate Debtor admitted to owing Rs.2,62,85,211/- to the Operational Creditor. The Corporate Debtor requested a waiver of Rs.49,65,768/- and proposed paying Rs.2,13,19,443/- in six equal monthly installments, leading to a settlement agreement. On 05 April, 2018, the Operational Creditor's counsel was absent, and the Corporate Debtor's counsel stated the matter was settled. The Adjudicating Authority dismissed the petition for lack of
…Adjudicating Authority recorded that 'Nobody…
The Assistant Commissioner, CGST,…