Allowed

In the matter of Genexis India Pvt. Ltd. IA-4100-ND-2021 in (IB)-3108-(ND)-2019

NCLT14 Sept 2021

Case brief

AI extract

What is this about?

The Tribunal allowed an application filed by the IRP under Section 12A of the IBC, 2016 for withdrawal of the main insolvency application, based on an arrived settlement agreement and consent from the operational creditor.

What did the court decide?

Withdrawal of the main insolvency application (IB-3108/ND/2019) allowed and disposed of based on the settlement agreement.

In the matter of Genexis India Pvt. Ltd. IA-4100-ND-2021… — Insolvency and Bankruptcy | NCLT (2021)

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IN THE NATIONAL COMPANY LAW TRIBUNAL: NEW DELHI COURT – IV

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ITEM No.1

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	IA-4100/ND/2021 (IB)-3108/(ND)/2019
IN THE MATTER OF:
Rohit Kumar	… Applicant
Vs.
Genexis India Pvt. Ltd.	… Respondent

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Order under Section 9 of IBC.

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Order delivered on 14.09.2021

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Coram:

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DR. DEEPTI MUKESH, HON’BLE MEMBER (JUDICIAL)

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MS. SUMITA PURKAYASTHA, HON’BLE MEMBER (TECHNICAL)

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PRESENT:

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For the Applicant :Mr. Diggaj Pathak, Ms. Shweta Sharma, Mr. NavedAhemd, Advs. For the IRP : Mr. Mohd. Nazim Khan, PCS For Suspended Board of Directors : Mr. Shikhil Suri, Adv. : Ms. Madhu Suri, Ms. Komal Gupta, Advs.

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ORDER

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IA No. 4100/ND/2021:

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Application filed by the IRP under Section 12A of the Insolvency & Bankruptcy Code, 2016 seeking withdrawal of the main IB application in which the application admitting and initiating CIRP order was passed on 07.07.2021. Learned Counsels for both the sides are present. The appointed IRP Mr. S. Sharma is also present through video-conferencing. It is submitted by all that the settlement agreement is arrived at, copy of which is annexed. Form ‘FA’ being the consent of the Operational Creditor is also annexed. Learned Counsel for the IRP, Mr. S. Sharma, makes a statement that the cheques have been issued to the Operational Creditor as well as to the IRP. Considering the submission made and documents on record, we allow the application, thereby IB-3108/ND/2019 stands allowed and disposed of.

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Sd/SUMITA PURKAYASTHA MEMBER (TECHNICAL)

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Sd/DR. DEEPTI MUKESH MEMBER (JUDICIAL)

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MUKESH

In the matter of Genexis India Pvt. Ltd. IA-4100-ND-2021 in (IB)-3108-(ND)-2019

Case brief

What is this about?

What did the court decide?

In the matter of Genexis India Pvt. Ltd. IA-4100-ND-2021 in (IB)-3108-(ND)-2019

Case brief

What is this about?

What did the court decide?

What the court decided

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