The case pertains to MA 3080/2019 in C.P.(IB)- 2781(MB)/2018. The applicant contends that an admission order was passed on 16.7.2019, and the CoC was constituted on 30.7.2019, comprising four Financial Creditors and seven Operational Creditors. The applicant further claims that all Financial Creditors are related parties. The suspended Directors of the Corporate Debtor entered into a Settlement Agreement on 5.8.2019 with the Financial Creditor and the applicant/RP, leading to the handover of three Demand Drafts and one TDS challan pertaining to the TDS on interest to the financial creditor.
The applicant in MA 3080/2019 states that an admission order was passed on 16.7.2019, and the CoC was formed on 30.7.2019, consisting of four Financial Creditors and seven Operational Creditors. The applicant alleges that all the Financial Creditors are related parties. The suspended Directors of the Corporate Debtor entered into a Settlement Agreement on 5.8.2019 with the Financial Creditor and the applicant/RP, resulting in the transfer of three Demand Drafts and one TDS challan related to interest payments to the financial creditor. In the first CoC meeting on 16.8.2019, a resolution was passed to withdraw the CIRP process. Subsequently, the Financial Creditor, as per Section 12 A of IBC, 2016, provided consent in Form FA for the CIRP withdrawal. The relevance of
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The case pertains to MA 3080/2019 in C.P.(IB)- 2781(MB)/2018. The applicant contends that an admission order was passed on 16.7.2019, and the CoC was constituted on 30.7.2019, comprising four Financial Creditors and seven Operational Creditors. The applicant further claims that all Financial Creditors are related parties. The suspended Directors of the Corporate Debtor entered into a Settlement Agreement on 5.8.2019 with the Financial Creditor and the applicant/RP, leading to the handover of three Demand Drafts and one TDS challan pertaining to the TDS on interest to the financial creditor.
The applicant in MA 3080/2019 states that an admission order was passed on 16.7.2019, and the CoC was formed on 30.7.2019, consisting of four Financial Creditors and seven Operational Creditors. The applicant alleges that all the Financial Creditors are related parties. The suspended Directors of the Corporate Debtor entered into a Settlement Agreement on 5.8.2019 with the Financial Creditor and the applicant/RP, resulting in the transfer of three Demand Drafts and one TDS challan related to interest payments to the financial creditor. In the first CoC meeting on 16.8.2019, a resolution was passed to withdraw the CIRP process. Subsequently, the Financial Creditor, as per Section 12 A of IBC, 2016, provided consent in Form FA for the CIRP withdrawal. The relevance of
…An admission o…
The Committee of Creditors (CoC) was…
Sign in to view related legal provisions.