The case involves an appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Manpasand Beverages Ltd., the Corporate Debtor. The Appellant is the Director of the Suspended Board of the Corporate Debtor. The Appellant settled the claim of the Operational Creditor, and an application for withdrawal was filed under Section 12A of the IBC.
Abhishek Singh, the Director of the Suspended Board of Manpasand Beverages Ltd., filed an appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was initially filed by Huhtamaki PPL Ltd., an Operational Creditor, against Manpasand Beverages Ltd. The Appellant and the Operational Creditor reached a settlement, leading to the filing of an application for withdrawal under Section 12A of the IBC. The Interim Resolution Professional (IRP) also filed an application before the Adjudicating Authority. The IRP reported that the money has been paid violating moratorium which the IRP has reported to the Adjudicating Authority. The Committee of Creditors (CoC) has not been constituted. The Appellant sought
…Sign in to view the parties.
Respondent No. 1-Operational Creditor filed…
The Application was…
The case involves an appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Manpasand Beverages Ltd., the Corporate Debtor. The Appellant is the Director of the Suspended Board of the Corporate Debtor. The Appellant settled the claim of the Operational Creditor, and an application for withdrawal was filed under Section 12A of the IBC.
Abhishek Singh, the Director of the Suspended Board of Manpasand Beverages Ltd., filed an appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was initially filed by Huhtamaki PPL Ltd., an Operational Creditor, against Manpasand Beverages Ltd. The Appellant and the Operational Creditor reached a settlement, leading to the filing of an application for withdrawal under Section 12A of the IBC. The Interim Resolution Professional (IRP) also filed an application before the Adjudicating Authority. The IRP reported that the money has been paid violating moratorium which the IRP has reported to the Adjudicating Authority. The Committee of Creditors (CoC) has not been constituted. The Appellant sought
…Respondent No. 1-Operational Creditor filed…
The Application was…