The case involves a petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 by Phoenix Global DMCC against A&A International Trading Pvt Ltd. The Corporate Insolvency Process was initiated, and a moratorium was declared. However, the Operational Creditor did not propose an Insolvency Resolution Professional (IRP), and a reference was made to IBBI for recommending an IRP. The petitioner filed a memo seeking recall of the order dated 16.06.2017.
Phoenix Global DMCC filed a petition against A&A International Trading Pvt Ltd under Section 9 of the Insolvency & Bankruptcy Code, 2016. The NCLT initiated the Corporate Insolvency Process and declared a moratorium. However, Phoenix Global DMCC did not propose an Insolvency Resolution Professional (IRP). A reference was made to IBBI for recommending an IRP. Subsequently, Phoenix Global DMCC filed a memo seeking recall of the order dated 16.06.2017. A&A International Trading Pvt Ltd was directed to file an affidavit stating it had not defaulted on other debts. A&A International Trading Pvt Ltd paid Phoenix Global DMCC US $2,50,000 on 23rd June 2017, settling the outstanding debts. Phoenix Global DMCC admitted to the settlement.
Sign in to view the parties.
Order passed in…
Corporate Debtor paid…
The case involves a petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 by Phoenix Global DMCC against A&A International Trading Pvt Ltd. The Corporate Insolvency Process was initiated, and a moratorium was declared. However, the Operational Creditor did not propose an Insolvency Resolution Professional (IRP), and a reference was made to IBBI for recommending an IRP. The petitioner filed a memo seeking recall of the order dated 16.06.2017.
Phoenix Global DMCC filed a petition against A&A International Trading Pvt Ltd under Section 9 of the Insolvency & Bankruptcy Code, 2016. The NCLT initiated the Corporate Insolvency Process and declared a moratorium. However, Phoenix Global DMCC did not propose an Insolvency Resolution Professional (IRP). A reference was made to IBBI for recommending an IRP. Subsequently, Phoenix Global DMCC filed a memo seeking recall of the order dated 16.06.2017. A&A International Trading Pvt Ltd was directed to file an affidavit stating it had not defaulted on other debts. A&A International Trading Pvt Ltd paid Phoenix Global DMCC US $2,50,000 on 23rd June 2017, settling the outstanding debts. Phoenix Global DMCC admitted to the settlement.
Order passed in…
Corporate Debtor paid…