Disposed
In the matter of Alps Motor Finance Limited [IA-1673-2024 in IB-55-ND-2024]
NCLTIA-1673-2024 in IB-55-ND-2024
Case brief
AI extract
What is this about?
The Tribunal disposed of an application pending under Section 7 of the IBC, 2016. The court observed that parties were in talks to settle the defaulted amount, granting a 6-week period to materialize the settlement before reviving proceedings.
What did the court decide?
Six weeks period granted for materialization of settlement; proceedings to be revived if not settled within that time.