The appeal was filed against the order dated 24th January 2022, by which I.A. No. 1113 of 2021 was dismissed. The Adjudicating Authority rejected the withdrawal of the application under Section 12-A of the Code, even though the Committee of Creditors (CoC) was not constituted. The Adjudicating Authority noticed that in pursuance of the Advertisement, some claims have been submitted.
An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) by an order dated 25th November 2021. The parties then appeared before the Adjudicating Authority and filed an application under Section 12A for withdrawal of the CIRP on 17th December 2021. The IRP had issued an advertisement on 05.12.2021. The Operational Creditor had entered into a settlement, leading to the application for withdrawal. Form FA, signed by the Operational Creditor, was filed as part of the application. The Adjudicating Authority rejected the withdrawal application under Section 12-A, noting that some claims had been submitted following the advertisement. The Committee of Creditors (CoC)
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Corporate Insolvency Resolution Process…
The IRP i…
The appeal was filed against the order dated 24th January 2022, by which I.A. No. 1113 of 2021 was dismissed. The Adjudicating Authority rejected the withdrawal of the application under Section 12-A of the Code, even though the Committee of Creditors (CoC) was not constituted. The Adjudicating Authority noticed that in pursuance of the Advertisement, some claims have been submitted.
An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) by an order dated 25th November 2021. The parties then appeared before the Adjudicating Authority and filed an application under Section 12A for withdrawal of the CIRP on 17th December 2021. The IRP had issued an advertisement on 05.12.2021. The Operational Creditor had entered into a settlement, leading to the application for withdrawal. Form FA, signed by the Operational Creditor, was filed as part of the application. The Adjudicating Authority rejected the withdrawal application under Section 12-A, noting that some claims had been submitted following the advertisement. The Committee of Creditors (CoC)
…Corporate Insolvency Resolution Process…
The IRP i…