2020 (9) TMI 1207

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....ditor: Ms. Jayanthi K. Shah, Advocate For Corporate Debtor: Mr. P.V.George (Puthiyedam), Advocate ORDER This is an application filed by M/s Sri Ramani Resorts and Hotels Pvt. Ltd. (hereinafter called "Financial Creditor") seeking to set in motion the Corporate Insolvency Resolution Process (CIRP) against M/s Sree Bhadra Parks and Resorts Ltd. (hereinafter called "Corporate Debtor") a....

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.... 05.09.2014, 17.03.2015, 28.11.2018 and reply notice dated 31.01.2018 wherein the liability is not denied. Hence, a sum of Rs.4,25,32,016.405/- (=4,25,32,016.40) along with interest @24% per annum stands due as on date. 3. The Corporate Debtor filed its reply and raised various contentions opposing the application. 4. However, after considering the rival contentions and hearing both parties,....

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.... as full and final settlement of the entire claim between the Corporate Debtor M/s Sree Bhadra Parks and Resorts Limited on the following terms: (a) M/s Sree Bhadra Parks and Resorts Limited have paid a sum of Rs. 1,00,000/ on 26.8.2020. (b) Cheque dated 10.9.2020 bearing No.214323 for Rs. 10,00,000/- was given. However, returning the said cheque M/s Sree Bhadra Parks and Resorts....

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....sp;yet constituted and that since the matter is settled between the parties, it is not necessary to pursue the matter any more. Hence the applicant would like to withdraw the application IBA/13/KOB/2020 filed under Section 7 of IBC, with liberty to file fresh application, if the settlement agreement as above is not complied with by the Corporate Debtor. It is also stated that the expenses of the I....