Allowed
In the matter of Blue Coast Infrastructure Development Pvt. Ltd. Ia No. 84-2022 in Cp (Ib) No. 16-Chd-HP-2019
Case brief
AI extract
What is this about?
Petitioners sought withdrawal of a Corporate Insolvency Resolution Process petition under Section 7 of the I&B Code citing a settlement agreement. The NCLT Chandigarh Bench examined the filed agreement and counsel's statement. It allowed the withdrawal application and ordered the dismissal of the underlying CP (IB) as withdrawn. The tribunal held that the settlement agreement justified the withdra
What did the court decide?
IA No. 84/2022 allowed for withdrawal; CP (IB) No. 16/Chd/HP/2019 dismissed as withdrawn.