Debtor settles with creditors, NCLT case dismissed. Settlement agreements reached for outstanding amounts. The NCLT Kolkata Bench dismissed case CP No. 1621/2018 after the corporate debtor agreed to settle outstanding amounts with three financial creditors ...
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Debtor settles with creditors, NCLT case dismissed. Settlement agreements reached for outstanding amounts.
The NCLT Kolkata Bench dismissed case CP No. 1621/2018 after the corporate debtor agreed to settle outstanding amounts with three financial creditors based on settlement agreements dated 21.01.2022. Future payments are also included in the settlements, with creditors having the option to revive the petition in case of default.
The National Company Law Tribunal Kolkata Bench issued an order based on three settlement agreements dated 21.01.2022 between the corporate debtor and three financial creditors. The corporate debtor agreed to settle the outstanding amounts as per the agreements, which also include future payments. The settlement agreements are made part of the order, and the case CP No. 1621/2018 is dismissed as withdrawn. Financial creditors have the liberty to file applications for revival of the company petition in case of default.
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