Allowed
In the matter of Barkat Cranes & Equipments Private Limited [C.P. (IB)-1125(MB)2023]
NCLTC.P. (IB)-1125(MB)2023
Case brief
AI extract
What is this about?
The Tribunal allowed the withdrawal of the Corporate Insolvency Resolution Process application following a settlement agreement between the petitioner and respondent, with liberty to revive the petition if settlement conditions are breached.
What did the court decide?
C.P. (IB) allowed to be withdrawn with liberty to revive if conditions of the Settlement Agreement are violated.