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) against Manpasand Beverages Ltd. The application was initially filed by Huhtamaki PPL Ltd., an Operational Creditor, before the NCLT Ahmedabad Bench. During the pendency of the appeal, the Appellant settled the claim with the Operational Creditor, and an application for withdrawal was filed under Section 12A of the IBC. The IRP, Salil Thakore, agreed to the settlement but stated that the money has been paid violating moratorium. The Committee of Creditors (CoC) had not been constituted. The Appellant sought permission to withdraw the appeal with the liberty to restore
…Sign in to view the parties.
Operational Creditor filed C.P. (IB) No.…
The court permitted the withdrawal of the…
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) against Manpasand Beverages Ltd. The application was initially filed by Huhtamaki PPL Ltd., an Operational Creditor, before the NCLT Ahmedabad Bench. During the pendency of the appeal, the Appellant settled the claim with the Operational Creditor, and an application for withdrawal was filed under Section 12A of the IBC. The IRP, Salil Thakore, agreed to the settlement but stated that the money has been paid violating moratorium. The Committee of Creditors (CoC) had not been constituted. The Appellant sought permission to withdraw the appeal with the liberty to restore
…Operational Creditor filed C.P. (IB) No.…
The court permitted the withdrawal of the…