Disposed
In the matter of Omkar Ventures Private Limited Cp No.4392 (IB)-MB-C-II-2019
Case brief
AI extract
What is this about?
This case involves a petition under Section 9 of the IBC filed by an operational creditor to initiate CIRP against a corporate debtor for unpaid advertising invoices. The NCLT disposed of the petition as it was withdrawn after the corporate debtor paid a lump sum amount as full and final settlement of the claim.
What did the court decide?
The petition was disposed of on the grounds that it was withdrawn by the petitioner following the full and final settlement of the debt by the corporate debtor.