Container Corporation Of India announced that the company and Kohinoor India have signed a Settlement Agreement on 20 November 2019.
Under this Agreement, the company has already made full and final settlement with Kohinoor India by making a total payment of Rs.9,18,933. The parties have also undertaken that they shall not file any other claim/ suit/ petition in any Court with respect to the dispute.
The existing Petition IB No.631/(ND)/2018, which is pending before the Hon'ble NCLT, New Delh, is now likely to be dealt with in accordance with the above settlement agreement reached among the parties and the case is expected to be closed. The next hearing in Hon'ble NCLT is scheduled to be held on 28 November 2019.
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