https://www.taxtmi.com/caselaws?id=403341 The case involved a petition to initiate Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 due to a default by the Corporate Debtor. The parties reached a settlement where the Corporate Debtor agreed to pay the Operational Creditor a total amount of USD 97,698 in installments. Security cheques were provided, and in case of default, the Corporate Debtor had an 8-day remedy period. The petition was withdrawn with liberty to file a fresh petition if terms were not met, emphasizing the importance of adherence to settlement terms in insolvency proceedings. en-us Wed, 26 Aug 2020 00:00:00 +0530 Wed, 27 Jan 2021 10:12:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403341 The case involved a petition to initiate Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 due to a default by the Corporate Debtor. The parties reached a settlement where the Corporate Debtor agreed to pay the Operational Creditor a total amount of USD 97,698 in installments. Security cheques were provided, and in case of default, the Corporate Debtor had an 8-day remedy period. The petition was withdrawn with liberty to file a fresh petition if terms were not met, emphasizing the importance of adherence to settlement terms in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Wed, 26 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403341