9911796707
TMI Blog2021 (2) TMI 87X X X X Extracts X X X X X X X X Extracts X X X X ..... he Corporate Debtor awarded six tenders to the Operational Creditor for supply of materials and service for design, supply, installations, testing, commissioning and validation of modular works for establishing an integrated vaccine complex at Chengalpettu near Chennai. After completion of the work, the invoices for an amount of Rs. 12,67,18,543/- have been issued but the Corporate Debtor has paid only an amount of Rs. 9,56,99,203/- and as on 20th December, 2019 an amount of Rs. 3,10,19,340/- is outstanding from the Corporate Debtor. Applicant issued demand notice under Section 8 of the IBC claiming the amount of Rs. 3,10,19,340/- with interest of Rs. 83,75,222/- from 7.5.2018 to 7.12.2019. The Corporate Debtor acknowledged the said demand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is stated as under: "This Deed of Settlement is signed on this 7th day of January, 2021 by and between: M/s. GMP Technical Solutions Private Limited having its registered office at 309-316, Swastik Disa Business Park, Behind Wadhani Industrial Estate, L Bs Marg, Ghatkopar (W.Mumbai 400 086 ( CIN U74999MH2003PTC142312) (hereinafter referred to as GMP) including its successors and assigns; And M/s. HLL Biotech Limited (HBL) having its Registered Office at HLL Bhavan, Mahilamandiram,m Road, Poojappura, Thiruvananthapuram 695012, Kerala (CIN U24290KL2012GOI030732) and its Corporate Office at Integrated Vaccine Complex, S. NO. 192 & 195, Melaripakkam (post) Thirukalukundram (TK) Chengalpattu 603003 hereinafter referred to as HBL), inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted 17" December, 2020 directed HBL to submit a settlement proposal regarding payment of dues to GMP. WHEREAS a plan for revival of HBL is presently under consideration of the Government of India. WHEREAS the Parties have mutually discussed the matter about settlement of amount due from HBL to GMP and arrived at this settlement for payment of dues. NOW THEREFORE, in consideration of the premises and mutual promises contained herein, the parties agree as follows: 1. Regarding settlement of amount due from HBL to GMP (pertaining to CRP Division, Baddi and subject matter of lBA 32/KOB/2020), HBL has agreed to make initial part payment of Rs. INR 2,00,00,000/- (Rupees Two crore only) on signing the present settlement. 2. HBL has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on date. 6 The Parties hereby, agree and confirm that in full and final settlement of all their payables and receivables (in respect of both CRP and HVAC divisions of GMP), HBL shall make an aggregate payment of Rs. 5,17,20,091/-(Rupees Five Crore Seventeen Lakh Twenty Thousand Ninety One only) to GMP, inclusive of the payment of Rs. 2,00,00,000/- (Rupees Two Crores Only) as per Clause 1 hereinabove. GMP has agreed to accept receipt of the said amount of Rs. 5,17,20,091/- (Rupees Five Crore Seventeen Lakh Twenty Thousand Ninety One only) as full and final settlement of all their claims (both CRP &HVAC) and has categorically agreed not to make any additional claim whatsoever against HBL, whether towards interest or any other heads, except ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y on execution of this Deed of Settlement, GMP hereby agrees and undertakes: a. To forthwith take all necessary steps required for and ensure withdrawal of the application filed by them under Section 9 of the Insolvency and Bankruptcy Code, 2016, before the National Company Law Tribunal, Kochi Bench, numbered as IBA 32/KOB/2020; b. To ensure that, till such time as 1BA 32/KOB/2020 before the National Company Law Tribunal, Kochi Bench is formally withdrawn, no adverse order (whether by way of admitting the said application or otherwise) is passed or issued against HBL in the said proceedings; c. To issue a No Objection Certificate to HBL certifying that GMP has no objection to the proposed Scheme of Arrangement between HLL and HBL r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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