An application (I.A. No.441/2025) was filed by the Interim Resolution Professional (IRP) under Section 12A of the I&B Code, 2016 read with Regulations 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and Rule 11 of the NCLT Rules, 2016 seeking withdrawal of the C.P (IB) No.173/BB/2023.
Biotechnology Industry Research Assistance Council (BIRAC) is a Government of India enterprise set up by the Department of Biotechnology (DBT).
Avesthagen Limited is a company limited by shares, incorporated on 20.04.1998, engaged in research and experimental development on Natural Sciences and Engineering.
DBT sanctioned loans to Avesthagen Limited under the Biotechnology Industrial Partnership Programme (BIPP) and Small Business Innovation Research Initiative (SBIRI) schemes.
The total outstanding amount due from Avesthagen Limited was Rs. 4,77,04,159.35/- as on 31.03.2023.
The Petitioner issued a recall notice dated 21.08.2018 and a final demand notice dated 05.02.2020 to the Corporate Debtor.
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The present Petition was filed on 05.02.2024…
Order delive…
An application (I.A. No.441/2025) was filed by the Interim Resolution Professional (IRP) under Section 12A of the I&B Code, 2016 read with Regulations 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and Rule 11 of the NCLT Rules, 2016 seeking withdrawal of the C.P (IB) No.173/BB/2023.
Biotechnology Industry Research Assistance Council (BIRAC) is a Government of India enterprise set up by the Department of Biotechnology (DBT).
Avesthagen Limited is a company limited by shares, incorporated on 20.04.1998, engaged in research and experimental development on Natural Sciences and Engineering.
DBT sanctioned loans to Avesthagen Limited under the Biotechnology Industrial Partnership Programme (BIPP) and Small Business Innovation Research Initiative (SBIRI) schemes.
The total outstanding amount due from Avesthagen Limited was Rs. 4,77,04,159.35/- as on 31.03.2023.
The Petitioner issued a recall notice dated 21.08.2018 and a final demand notice dated 05.02.2020 to the Corporate Debtor.
…The present Petition was filed on 05.02.2024…
Order delive…