Case withdrawal rejected despite settlement agreement


In the case of Parker Hannifin India Private Limited v Prowess International Private Limited, the Kolkata bench of National Company Law Tribunal (NCLT) recently ruled on the aspect of withdrawal of an insolvency petition based on a settlement arrived at between the parties after it had been admitted under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC).

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

For group subscribers, please click here to access.
Interested in group subscription? Please contact us.



The dispute digest is compiled by Bhasin & Co, Advocates, a corporate law firm based in New Delhi. The authors can be contacted at or Readers should not act on the basis of this information without seeking professional legal advice.