2019 (11) TMI 541

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ainst order dated 10th July, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi admitting application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the 'I&B Code') filed by Mr. Ajay Jugran - ('Financial Creditor') against the 'Corporate Debtor'. 2. When the matter is taken up on 19th July, 2019, learned Senior Counsel for the Appellants submitted that in the facts and circumstances, the Respondent - 'Mr. Ajay Jugran' cannot be treated as 'Financial Creditor', having failed to pay the amount on receipt of Demand Notice. However, it was intimated that the Appellants are negotiating the matter for settlement with the 1st Respondent ('Financial Credi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sue & mutually settled it and the Second Party has agreed to withdraw the Complaint / Petition number (IB) - 1069 (PB) of 2018 from Hon'ble NCLT and agreed to continue with the booking of apartment no.1005 / Gaur Sportswood subject to the terms contained herein 3. That for this settlement the First Party has given Rs. 1509353/- to the Second Party as interest on received amount by giving credit in the Applicant Ledger (adjusted amount in the cost of the apartment). Further the First Party has agreed to finish / complete the apartment by and give time extension to the Second Party till 31.10.2019 for the balance payment without any past, present or future interest and or any additional costs or charges. 4. That the parties ....