This appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, against an order dated March 28, 2022, passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench-V). The Adjudicating Authority had dismissed an application filed under Section 12A of the Code, read with Rule 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016, seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Radius Estate Projects Private Limited, due to a settlement between the Corporate Debtor and the Financial Creditor, SBICAP Trustee Company Ltd. The CIRP was initiated on September 6, 2021, following an application by SBICAP Trustee
…SBICAP Trustee Company Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, which led to the initiation of CIRP against Radius Estate Projects Private Limited on September 6, 2021. An Insolvency Resolution Professional (IRP) was appointed, and a public announcement was made, inviting creditors to submit their claims. Dewan Housing Finance Corporation Ltd (DHFL), later taken over by Piramal Capital and Housing Finance Limited (Piramal), submitted a claim of Rs. 2343,90,99,483/-. An earlier appeal, CA(AT) (Ins) No. 820 of 2021, was disposed of due to a settlement between SBICAP and Radius Private Limited. Subsequently, SBICAP moved an application under Section 12A of the Code to withdraw the CIRP, supported by a consent form from Radius
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CIRP initiated against Radius Estate Projects…
Insolvency Resolution Professional (IRP)…
This appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, against an order dated March 28, 2022, passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench-V). The Adjudicating Authority had dismissed an application filed under Section 12A of the Code, read with Rule 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016, seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Radius Estate Projects Private Limited, due to a settlement between the Corporate Debtor and the Financial Creditor, SBICAP Trustee Company Ltd. The CIRP was initiated on September 6, 2021, following an application by SBICAP Trustee
…SBICAP Trustee Company Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, which led to the initiation of CIRP against Radius Estate Projects Private Limited on September 6, 2021. An Insolvency Resolution Professional (IRP) was appointed, and a public announcement was made, inviting creditors to submit their claims. Dewan Housing Finance Corporation Ltd (DHFL), later taken over by Piramal Capital and Housing Finance Limited (Piramal), submitted a claim of Rs. 2343,90,99,483/-. An earlier appeal, CA(AT) (Ins) No. 820 of 2021, was disposed of due to a settlement between SBICAP and Radius Private Limited. Subsequently, SBICAP moved an application under Section 12A of the Code to withdraw the CIRP, supported by a consent form from Radius
…CIRP initiated against Radius Estate Projects…
Insolvency Resolution Professional (IRP)…