The case involves an appeal against the admission of a Corporate Insolvency Resolution Process (CIRP) application under Section 7 of the I&B Code against 'M/s Krrish Shalimar Projects Pvt. Ltd.' (Corporate Debtor). The Adjudicating Authority admitted the application on January 16, 2019. During the pendency of the appeal and before the constitution of the Committee of Creditors (CoC), the shareholder of the Corporate Debtor reached a settlement with the Financial Creditors (Respondents No. 1, 2, and 3) on January 27, 2019. The Appellant then filed an application for withdrawal of the Insolvency Resolution Proceeding, citing a decision of the Supreme Court in ‘Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.'
On 04.02.2019, Manjula Khullar & Ors. filed an application under Section 7 of the I&B Code for initiation of Corporate Insolvency Resolution Process against 'M/s Krrish Shalimar Projects Pvt. Ltd.' (Corporate Debtor). The Adjudicating Authority admitted the application on January 16, 2019. During the pendency of the appeal and before the constitution of the Committee of Creditors (CoC), the shareholder of the Corporate Debtor reached a settlement with the Financial Creditors (Respondents No. 1, 2, and 3) on January 27, 2019. The Appellant then filed an application for withdrawal of the Insolvency Resolution Proceeding, citing a decision of the Supreme Court in ‘Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.', Writ Petition (Civil) No. 99/2018
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The Adjudicating Authority admitted the…
The Supreme Court issued a decision in ‘Swiss…
The case involves an appeal against the admission of a Corporate Insolvency Resolution Process (CIRP) application under Section 7 of the I&B Code against 'M/s Krrish Shalimar Projects Pvt. Ltd.' (Corporate Debtor). The Adjudicating Authority admitted the application on January 16, 2019. During the pendency of the appeal and before the constitution of the Committee of Creditors (CoC), the shareholder of the Corporate Debtor reached a settlement with the Financial Creditors (Respondents No. 1, 2, and 3) on January 27, 2019. The Appellant then filed an application for withdrawal of the Insolvency Resolution Proceeding, citing a decision of the Supreme Court in ‘Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.'
On 04.02.2019, Manjula Khullar & Ors. filed an application under Section 7 of the I&B Code for initiation of Corporate Insolvency Resolution Process against 'M/s Krrish Shalimar Projects Pvt. Ltd.' (Corporate Debtor). The Adjudicating Authority admitted the application on January 16, 2019. During the pendency of the appeal and before the constitution of the Committee of Creditors (CoC), the shareholder of the Corporate Debtor reached a settlement with the Financial Creditors (Respondents No. 1, 2, and 3) on January 27, 2019. The Appellant then filed an application for withdrawal of the Insolvency Resolution Proceeding, citing a decision of the Supreme Court in ‘Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.', Writ Petition (Civil) No. 99/2018
…The Adjudicating Authority admitted the…
The Supreme Court issued a decision in ‘Swiss…