The case involves Sanfield India Ltd., the Operational Creditor, initiating proceedings against Varaha Infra Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The matter was heard through video conferencing.
Sanfield India Ltd. (Operational Creditor) filed a petition against Varaha Infra Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016. During the proceedings, the Operational Creditor's counsel submitted that the agreed amount had been received by the Petitioner, and the matter had been settled between the parties. Consequently, the Operational Creditor sought to withdraw the petition. The court then granted permission for the withdrawal, and the petition was dismissed.
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The Corporate Insolvency Resolution Process…
The court granted permission for the…
The case involves Sanfield India Ltd., the Operational Creditor, initiating proceedings against Varaha Infra Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The matter was heard through video conferencing.
Sanfield India Ltd. (Operational Creditor) filed a petition against Varaha Infra Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016. During the proceedings, the Operational Creditor's counsel submitted that the agreed amount had been received by the Petitioner, and the matter had been settled between the parties. Consequently, the Operational Creditor sought to withdraw the petition. The court then granted permission for the withdrawal, and the petition was dismissed.
The Corporate Insolvency Resolution Process…
The court granted permission for the…