The case involves an application (IA-1403/2019) filed under Section 12(A) of the Insolvency and Bankruptcy Code, 2016, seeking the Court's permission to terminate the Corporate Insolvency Resolution Process (CIRP). Public advertisement was made on 05.08.2017. No claims were received from creditors in response to the public advertisement. The claims of Asset Reconstruction India Limited (ARCIL) have been settled, as ARCIL had taken recourse to SARFESI proceedings to enforce its claim against the Corporate Applicant. ARCIL also issued a 'No Dues Certificate' dated 16.07.2019 to the Corporate Applicant. The CIRP was initiated against the Corporate Applicant vide order dated 10.07.2017.
Alpha & Omega Diagnostic Ltd. was undergoing Corporate Insolvency Resolution Process (CIRP). An application (IA-1403/2019) was filed under Section 12(A) of the Insolvency and Bankruptcy Code, 2016, seeking to terminate the CIRP. Public advertisement regarding the CIRP was made on 05.08.2017. No claims were received from any creditors in response to the public advertisement. Asset Reconstruction India Limited (ARCIL) had its claims settled through SARFESI proceedings and issued a 'No Dues Certificate' dated 16.07.2019 to the Corporate Applicant. The CIRP was initiated against the Corporate Applicant vide order dated 10.07.2017. The Interim Resolution Professional (IRP) was present. No Committee of Creditors could be formed due to the absence of claims.
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CIRP initiated…
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The case involves an application (IA-1403/2019) filed under Section 12(A) of the Insolvency and Bankruptcy Code, 2016, seeking the Court's permission to terminate the Corporate Insolvency Resolution Process (CIRP). Public advertisement was made on 05.08.2017. No claims were received from creditors in response to the public advertisement. The claims of Asset Reconstruction India Limited (ARCIL) have been settled, as ARCIL had taken recourse to SARFESI proceedings to enforce its claim against the Corporate Applicant. ARCIL also issued a 'No Dues Certificate' dated 16.07.2019 to the Corporate Applicant. The CIRP was initiated against the Corporate Applicant vide order dated 10.07.2017.
Alpha & Omega Diagnostic Ltd. was undergoing Corporate Insolvency Resolution Process (CIRP). An application (IA-1403/2019) was filed under Section 12(A) of the Insolvency and Bankruptcy Code, 2016, seeking to terminate the CIRP. Public advertisement regarding the CIRP was made on 05.08.2017. No claims were received from any creditors in response to the public advertisement. Asset Reconstruction India Limited (ARCIL) had its claims settled through SARFESI proceedings and issued a 'No Dues Certificate' dated 16.07.2019 to the Corporate Applicant. The CIRP was initiated against the Corporate Applicant vide order dated 10.07.2017. The Interim Resolution Professional (IRP) was present. No Committee of Creditors could be formed due to the absence of claims.
CIRP initiated…
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