Disposed
In the matter of Eco Friendly Food Processing Park Limited [IA-1672-2024 in IB-54-ND-2024]
NCLTIA-1672-2024 in IB-54-ND-2024
Case brief
AI extract
What is this about?
In an application connected to proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016, the National Company Law Tribunal, New Delhi Bench, observed that parties were negotiating a settlement. The tribunal disposed of the application conditionally, allowing the applicant to revive the proceedings if the settlement was not materialized within six weeks.
What did the court decide?
The applications were disposed of with a direction to attempt settlement; proceedings to be revived if settlement fails within 6 weeks.