Dismissed
In the matter of Indus Projects Limited [C.P.(IB)-778(MB)-2022]
NCLTC.P.(IB)-778(MB)-2022
Case brief
AI extract
What is this about?
The NCLT Mumbai Bench dismissed the main company petition filed under Section 7 IBC, 2016 as withdrawn. This disposition was made in view of an out-of-court settlement between the parties accompanied by liberty not to revive the petition if consent terms are breached.
What did the court decide?
Permission granted to withdraw the main company petition; liberty to file fresh petition if consent terms are breached.