In an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, the Tribunal dismissed the insolvent applicant's petition as withdrawn following approval of a One Time Settlement with the financial creditor.
Petition dismissed as withdrawn; Issue statute bar
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NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT-IV
CORAM:
SHRI CHANDRA BHAN SINGH SMT. SUCHITRA KANUPARTHI MEMBER (Technical) MEMBER (Judicial)
ORDER SHEET OF THE HEARING HELD ON 16.02.2021
NAME OF THE PARTIES: State Bank of India
V/s
Vindhya Vasini Buildcon Pvt Ltd
SECTION 7OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016
ORDER
The Court is convened through Video Conference.
Both sides present. Ld. Counsel for the Petitioner submits that the One Time Settlement has been approved by the Bank, hence seeks for withdrawal of
the Petition. Accordingly, on the request made by the petitioner, the petition
is dismissed as withdrawn .
Sd/Sd/- CHANDRA BHAN SINGH SUCHITRA KANUPARTHI Member (Technical) Member (Judicial)
SVR
1 provisions across 1 enactments
State Bank of India
Vindhya Vasini Buildcon Pvt Ltd
Chandra Bhan Singh
Suchitra Kanuparthi
As recorded by the court registry
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