Dismissed

In the matter of Laxmiasho Conveyors & Variants Pvt. Ltd. Cp (Ib) No. 186-CB-2020

NCLT14 Jul 2021

Case brief

AI extract

What is this about?

The Tribunal recorded a settlement agreement between applicants and respondents dated 14.07.2021. It dismissed the Corporate Insolvency Resolution Process petition as withdrawn and granted liberty to revive it in case of future default by the corporate debtor.

What did the court decide?

Petition dismissed as withdrawn. Liberty granted to operational creditor to revive the petition upon default.

In the matter of Laxmiasho Conveyors & Variants Pvt… — Insolvency and Bankruptcy | NCLT (2021)

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NATIONAL COMPANY LAW TRIBUNAL CUTTACK BENCH CUTTACK

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ORDER SHEET OF THE HEARING ON 14th JULy,202t,03:00^p.M.

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CP (IB) No. 1861CB,12020

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	Present:1.Hon'bleMember(J), Shri Rajasekhar V.K.
	2.Hon'ble Member(T), ShriSatyaRanjanPrasad
Name ofthe	Rubber O MalabarProductsPvt.Ltd.-Vs- M/s.
Company	Laxmiasho Conveyors&Variants Pvt.Ltd.
UnderSection	9IBC

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For Petitioner (s) Mr. S.S. Mohanty, Adv. Mr. Kaushik Mandal, Adv. Mr. Swayamjit Rout, Adv.

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For Respondent (s)

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ORDER

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CP (IB) No. 186/C812020, after extensive hearings spread over 3 days, the parties have arrived at settlement, which has culminated in an agreement dated 14.07 .2021. The settlement agreement is taken on record and shall form part of the Order.

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CP (IB) l86lcBl2020 is dismissed as withdrawn in accordance with the settlement agreement. Liberty, is, however, granted to the Operational Creditor to revive the Company Petition at the stage at which it was teft off, in there is any default on the part of the Corporate Debtor.

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-g^d'.-

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Prasad Saty{ffi;-an Member (Technical)

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sd.

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Rajasekhar V.K. Member (Judicial)

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Ka usha I

In the matter of Laxmiasho Conveyors & Variants Pvt. Ltd. Cp (Ib) No. 186-CB-2020

Case brief

What is this about?

What did the court decide?

In the matter of Laxmiasho Conveyors & Variants Pvt. Ltd. Cp (Ib) No. 186-CB-2020

Case brief

What is this about?

What did the court decide?

What the court decided

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