Disposed
In the matter of Joy Homecreation Ltd. [IA-1140-2023 in C.P. (IB)-358(MB)2020]
NCLTIA-1140-2023 in C.P. (IB)-358(MB)2020
Case brief
AI extract
What is this about?
The Tribunal disposed of an Insolvency Petition filed under Section 7 of the IBC, 2016, as the Financial Creditor had fully tendered the claimed amount via Demand Drafts, rendering the petition unsustainable.
What did the court decide?
The petition under Section 7 of IBC was disposed of, and the Interim Application No. 1140/2023 was disposed of. The Petitioner may revive the petition if Demand Drafts are not encashed.