The Cutoff Bench allowed the withdrawal of the Corporate Insolvency Resolution Process petition upon the parties arriving at a settlement agreement dated 14.07.2021 and registering the same.
Petition dismissed as withdrawn; liberty granted to Operational Creditor to revive petition in case of default.
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02
NATIONAL COMPANY LAW TRIBUNAL CUTTACK BENCH CUTTACK
ORDER SHEET OF THE HEARING ON 14th JULy,202t,03:00p.M.
CP (IB) No. 1861CB,12020
| 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 |
For Petitioner (s) Mr. S.S. Mohanty, Adv. Mr. Kaushik Mandal, Adv. Mr. Swayamjit Rout, Adv.
For Respondent (s)
ORDER
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.
CP (IB) l86lcBl2020 is dismissed as withdrawn in accordance with the settlement agreement.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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Prasad Saty{ffi;-an Member (Technical)
sd.
Rajasekhar V.K. Member (Judicial)
Ka usha I
1 provisions across 1 enactments
Rubber O Malabar Products Pvt.Ltd.-Vs- M/s.
Laxmiasho Conveyors&Variants Pvt.Ltd.
Rajasekhar V.K
SatyaRanjanPrasad
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
