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Judgment
IA NO.216/2023
Ld. Counsel representing the Applicant present.
This is an application filed to revive the petition earlier filed U/s 9 of IBC bearing CP (IB) No.73/ALD/2021 at its original number, in view of the fact that the settlement, which had been arrived with the Corporate Debtor, has failed.
It is stated by the Ld. Counsel representing the Applicant that as per the order dated 04.07.2022 passed by this Tribunal, the aforesaid petition was dismissed as withdrawn with liberty to revive the same, if the terms and conditions of the said settlement, are not complied with by either of the parties.
It has been averred in para no.13 of the application, as under :-
“That the Respondent has committed default in compliance of the terms and conditions of the settlement deed and out of the above said cheques, 3 of the cheques as shown in the table in para 5 have been returned dishonoured on account of “Payment Stopped” and thereafter despite several requests, the Respondent has not made the payment. A copy of the statement of account is attached as Annexure A-7. A Copy of the dishonoured cheques along with bank returning memo are attached as Annexure A-8.”
It is stated by the Ld. Counsel representing the Applicant that in view of the fact that there is a breach of terms of the agreement by the Corporate Debtor, therefore, in view of the order dated 04.07.2022 passed by this Tribunal, the present petition deserves to be revived.
Let the notice in the present IA be issued to the non-applicant-respondent/ corporate debtor within a period of one week.
Reply be filed by the respondent within a period of two weeks with an advance copy to be supplied to the counsel opposite.
Let the matter to come up for further hearing on 6th July, 2023.