2020 (2) TMI 1553

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....#39;Corporate Debtor/Respondent'), on the ground that the Corporate Debtor has committed default for total amount of Rs. 33,84,32,493/- (Rupees Thirty Three Crores Eighty Four Lakhs Thirty Two Thousand Four Hundred and Ninety Three Only). 2. The case was listed for admission on various dates viz. 06.06.2019, 10.06.2019, 20.06.2019, 10.07.2019, 16.07.2019, 26.07.2019, 22.08.2020, 11.09.2019, 18.09.2019, 24.10.2019, 05.11.2019, 22.11.2019, 20.12.2019 & 29.01.2020, and it was adjourned on these dates at the request of parties, to serve the notice, to explore the possibility of the settlement etc. 3. Heard Shri Nikhil K., learned Counsel for the Petitioner and Shri Amit Mandgi, learned Counsel for the Respondent. We have carefully perused....

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....s and undertakes to pay and the Financial Creditor agrees to accept a sum of INR 17,00,000 (Rupees Seventeen Lakhs Only) (hereinafter referred to as the 'Settlement Amount') in full final settlement of the outstanding sum due, referred in the above Company Petition. b) The Corporate Debtor has till date paid a sum of INR 5,71,100/- (Rupees Five Lakhs Seventy One Thousand One Hundred Only) to the Financial Creditor towards Principle, the receipt of which is accepted by the Financial Creditor. The aforementioned amount will be deducted from the principle amount of Rs. 15,00,000/- (Rupees Fifteen Lakhs Only). The balance amount of INR 9,08,900/- (Rupees Nine Lakhs Eight Thousand Nine Hundred Only) and Rs. 2,00,000/- (Rupees Two Lakhs....

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....e Financial Creditor in the Company Petition with respect to the financial debt more particularly mentioned in the said Company Petition read with the affidavit in support of the petition. (4) It is hereby agreed by the parties hereto that all disputes between the parties, earlier correspondence, writings or agreements if any, claiming any dues, costs, damages against each other which are the subject matter of this petition shall stand withdrawn, revoked and waived, provided the payment of the settlement amount along with TDS certificate is made by the Corporate Debtor to the Financial Creditor and as statutorily required as mentioned hereinabove, time being of the essence. On realisation of the Settlement Amount as aforesaid stated herei....