2018 (11) TMI 1689

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... l) For Appellant: - Mr. Rajeev K. Panday, Mr. Vivek Singh and Mr. Swastik Dalal, Advocates. For Respondents: - Mr. Navneet Gupta, Advocate. ORDER Admittedly, 'M/s. Meka Dredging Company Private Limited'- ('Corporate Debtor') failed to pay the debt and having defaulted to pay the amount, the Respondent- 'M/s. L&T Finance Limited'- ('Financial Creditor') filed an application under Section 7 o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rtificate. However, it failed to make any settlement with the other 'Financial Creditor' namely- 'ARCIL'. 4. Learned counsel appearing on behalf of the 'ARCIL' submitted that a settlement agreement was reached before initiation of the 'Corporate Insolvency Resolution Process' but the 'Corporate Debtor' having failed to pay in terms of the settlement the settlement was revoked. However, we are no .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... or the reasons aforesaid, while we do not grant any relief to the Appellant, we make it clear that this order will not come in the way of the parties to settle the matter, if they do not want liquidation and may move before the appropriate forum for appropriate relief. The appeal and the Interlocutory Application stand disposed of with aforesaid observation. No cost.
Case laws, Decisions, Ju .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X