Tribunals and CommissionsDivision Bench(2022) 11 NCLT CK 0605

Yash Rastogi vs Omkar Realtors Pvt Ltd

National Company Law Tribunal · Decided on 22 November 2022

HON’BLE JUDGES
Shyam Babu Gautam, Member (Technical) · P.N. Deshmukh, Member (Judicial)
CASE NUMBER
IA 3492/2022 in C.P. (IB)/485(MB)2020

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Judgment

2 paragraphs · 131 words

ORDER

This is an Application filed by the Applicant/Financial Creditor placing on record the consent terms, entered between the parties dated 16.11.2022. Ld. Counsel appearing for the Financial Creditor submits that the Corporate Debtor will make the payment in terms of the consent terms and the conditions enshrined therein, as full and final satisfaction of the Financial Creditor. Counsel for the Financial Creditor further seeks liberty that, in case of breach of the consent terms dated 16.11.2022, the applicant/Financial Creditor should have right to revive the Petition. The submissions made by the parties have taken on record. Since the consent terms as entered between the parties is agreed by both the parties. Hence, Company Petition is closed with a liberty to revive the petition, in case of breach of consent terms.