The case involves an application under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate persons) Regulations, 2016, and Rule 11 of the NCLT Rules, 2016, seeking withdrawal of an application filed under Section 9 of the IBC, 2016. The parties have amicably resolved the dispute and executed a Settlement Agreement dated 01.6.2022.
The Operational Creditor filed an application under Section 9 of the IBC, 2016. Subsequently, the parties amicably resolved their dispute and executed a Settlement Agreement dated 01.06.2022. The Operational Creditor then filed an application under Section 12A of the IBC, seeking withdrawal of the initial application. The Operational Creditor also prayed for liberty to revive the said application in the event of default by the Corporate Debtor in making payment of the settled amount. The application was moved by the Operational Creditor seeking withdrawal of the Application bearing No.CP-IB-690/ND/2019 filed by the Operational Creditor.
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Application under Section 12A of the I&B Code,…
Parties executed a…
The case involves an application under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate persons) Regulations, 2016, and Rule 11 of the NCLT Rules, 2016, seeking withdrawal of an application filed under Section 9 of the IBC, 2016. The parties have amicably resolved the dispute and executed a Settlement Agreement dated 01.6.2022.
The Operational Creditor filed an application under Section 9 of the IBC, 2016. Subsequently, the parties amicably resolved their dispute and executed a Settlement Agreement dated 01.06.2022. The Operational Creditor then filed an application under Section 12A of the IBC, seeking withdrawal of the initial application. The Operational Creditor also prayed for liberty to revive the said application in the event of default by the Corporate Debtor in making payment of the settled amount. The application was moved by the Operational Creditor seeking withdrawal of the Application bearing No.CP-IB-690/ND/2019 filed by the Operational Creditor.
Application under Section 12A of the I&B Code,…
Parties executed a…