The case involves a petition for the termination of the Corporate Insolvency Resolution Process (CIRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC). A progress report filed by the Interim Resolution Professional (IRP) is on record, indicating that no claims have been received, except for the petitioner's claim as the Operational Creditor. The IRP's presence was required to confirm the constitution of the Committee of Creditors (CoC).
The Interim Resolution Professional (IRP) filed a progress report indicating that no claims were received, except for the petitioner's claim as the Operational Creditor. An application was filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) for the termination of the Corporate Insolvency Resolution Process (CIRP) due to a settlement between the parties. The Director of the Operational Creditor provided an affidavit confirming their consent for the termination of the CIRP. The IRP confirmed the facts of the case. The relevance of these facts is that they demonstrate a settlement between the parties involved, leading to the termination of the CIRP.
Sign in to view the parties.
Attendance-cum-order sheet of the hearing…
The case involves a petition for the termination of the Corporate Insolvency Resolution Process (CIRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC). A progress report filed by the Interim Resolution Professional (IRP) is on record, indicating that no claims have been received, except for the petitioner's claim as the Operational Creditor. The IRP's presence was required to confirm the constitution of the Committee of Creditors (CoC).
The Interim Resolution Professional (IRP) filed a progress report indicating that no claims were received, except for the petitioner's claim as the Operational Creditor. An application was filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) for the termination of the Corporate Insolvency Resolution Process (CIRP) due to a settlement between the parties. The Director of the Operational Creditor provided an affidavit confirming their consent for the termination of the CIRP. The IRP confirmed the facts of the case. The relevance of these facts is that they demonstrate a settlement between the parties involved, leading to the termination of the CIRP.
Attendance-cum-order sheet of the hearing…