2017 (7) TMI 1328

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....t terms dated 19th July, 2017 duly signed from the side of the Applicant and Respondent. 2. In this case an Order was passed on 05th July, 2017 by invoking the jurisdiction under section 9 of the 1B Code and held as under:- "7. Having considered the totality of the Circumstances and the Application/Petition for initiation of Insolvency Resolution Process under the I&BP Code, 2016 and having considered the default of the Corporate Debtor in making the payment as discussed supra, it is hereby pronounced that the "Moratorium Mas prescribed under Section 14 of the Code 2016 shall come into operation. As a result, institution of any suit or parallel Proceedings before any Court of Law are prohibited. The assets of the Debtor liquidat....

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....olvency Resolution Process against DBM Geotechnics and Constructions Private Limited, the Respondent abovenamed. 2. Parties have agreed to settle all disputes, differences and claims them arising out of the Work Order dated 7 March 2016, entered into between the Applicant and Respondent abovenamed for the hiring Of a Spud Barge (AF-180) for Marine Geotechnical work for the Mumbai Trans Harbour Link, also known as the Sewri-Nhava Sheva Trans Harbour Link ("Work"), on the following terms and conditions: a. Simultaneous to the signing fo these Consent Terms, the Respondent shall pay the agreed settlement amount to Applicant of (Indian Rupees Thirty Five lakhs) ("Agree Settlement Amount") by way of a Demand Draft drawn on Kota....