The case involves an application (IA/443(KB)2021) filed by the Interim Resolution Professional (IRP) seeking to withdraw the underlying Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. This withdrawal is based on a settlement reached between the Operational Creditor and one of the shareholders of the Corporate Debtor. Previously, another application (IA/93(KB)2021) was filed by the same Operational Creditor seeking to withdraw the company petition, but it was dismissed because it was not filed by the IRP as required by IBBI regulations. The CIRP was initiated on 20/02/2020, and several financial and operational creditors filed claims.
The Interim Resolution Professional (IRP) filed an application (IA/443(KB)2021) to withdraw the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. This application was based on a settlement between the Operational Creditor and one of the shareholders of the Corporate Debtor. Earlier, the same Operational Creditor had filed another application (IA/93(KB)2021) to withdraw the company petition, but it was dismissed because it was not filed by the IRP, as required by regulation 30A(i)(a) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The CIRP was initiated on 20/02/2020, and several financial and operational creditors filed claims. The claim of Jai Trading Company, the original petitioning company, had been
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CIRP commenced…
State Bank of India,…
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The case involves an application (IA/443(KB)2021) filed by the Interim Resolution Professional (IRP) seeking to withdraw the underlying Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. This withdrawal is based on a settlement reached between the Operational Creditor and one of the shareholders of the Corporate Debtor. Previously, another application (IA/93(KB)2021) was filed by the same Operational Creditor seeking to withdraw the company petition, but it was dismissed because it was not filed by the IRP as required by IBBI regulations. The CIRP was initiated on 20/02/2020, and several financial and operational creditors filed claims.
The Interim Resolution Professional (IRP) filed an application (IA/443(KB)2021) to withdraw the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. This application was based on a settlement between the Operational Creditor and one of the shareholders of the Corporate Debtor. Earlier, the same Operational Creditor had filed another application (IA/93(KB)2021) to withdraw the company petition, but it was dismissed because it was not filed by the IRP, as required by regulation 30A(i)(a) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The CIRP was initiated on 20/02/2020, and several financial and operational creditors filed claims. The claim of Jai Trading Company, the original petitioning company, had been
…CIRP commenced…
State Bank of India,…
Sign in to view related legal provisions.