Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2019 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (12) TMI 1534 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational creditors - earlier Appellant submitted that the Appellant intends to settle the matter with the Operational Creditors and the Committee of Creditors have not been constituted - HELD THAT:- Today, it is informed that the parties have settled the matter and the application for withdrawal has been filed before the Interim Resolution Professional, who asked some clarification from the Adjudicating Authority (National Company Law Tribunal), Kochi Bench, Kochi and the Adjudicating Authority by an order dated 2nd December, 2019 clarified the same. The Tribunal to pass appropriate order in terms of the decision of the Honble Supreme Court in SWISS RIBBONS PVT. LTD. AND ANR. VERSUS UNION OF INDIA AND ORS. [2019 (1) TMI 1508 - SUPREME COURT] taking into consideration the other factors including the claim, if any, made by other parties. Appeal disposed off.
|