The case involves an Interlocutory Application (IA No. 34 of 2020) filed in CP (IB) No. 494/9/HDB/2019 by the Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016. The petition bearing CP (IB) No. 494/9/HDB/2019 was admitted for Corporate Insolvency Resolution Process (CIRP) on 2019-11-28. Before the IRP could make a paper publication, the parties, M/s. Singer India Ltd (Operational Creditor) and M/s. APITCO Ltd (Corporate Debtor), reached a compromise and requested to halt the process. The Corporate Debtor made full payment of the agreed amount to the Operational Creditor for withdrawal of the CIRP.
The key facts are as follows: A petition bearing CP (IB) No.494/9/HDB/2019 was admitted for CIRP on 2019-11-28. Ms. Padmasri Appana was appointed as the Interim Resolution Professional (IRP). Before the IRP could make a paper publication, the Operational Creditor (M/s. Singer India Ltd) and the Corporate Debtor (M/s. APITCO Ltd) reached a compromise. The Corporate Debtor made full payment of Rs.33,16,230/- to the Operational Creditor. The IRP received Form FA as required under section 12A. The Corporate Debtor remitted the agreed amount on 2019-12-05. The applicant made arrangements to defray the expenses incurred by the IRP. The IRP filed an application seeking permission to withdraw the petition. The relevance of these facts is that they demonstrate compliance with
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The petition bearing CP…
Ms. Padmasri Appana was…
The case involves an Interlocutory Application (IA No. 34 of 2020) filed in CP (IB) No. 494/9/HDB/2019 by the Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016. The petition bearing CP (IB) No. 494/9/HDB/2019 was admitted for Corporate Insolvency Resolution Process (CIRP) on 2019-11-28. Before the IRP could make a paper publication, the parties, M/s. Singer India Ltd (Operational Creditor) and M/s. APITCO Ltd (Corporate Debtor), reached a compromise and requested to halt the process. The Corporate Debtor made full payment of the agreed amount to the Operational Creditor for withdrawal of the CIRP.
The key facts are as follows: A petition bearing CP (IB) No.494/9/HDB/2019 was admitted for CIRP on 2019-11-28. Ms. Padmasri Appana was appointed as the Interim Resolution Professional (IRP). Before the IRP could make a paper publication, the Operational Creditor (M/s. Singer India Ltd) and the Corporate Debtor (M/s. APITCO Ltd) reached a compromise. The Corporate Debtor made full payment of Rs.33,16,230/- to the Operational Creditor. The IRP received Form FA as required under section 12A. The Corporate Debtor remitted the agreed amount on 2019-12-05. The applicant made arrangements to defray the expenses incurred by the IRP. The IRP filed an application seeking permission to withdraw the petition. The relevance of these facts is that they demonstrate compliance with
…The petition bearing CP…
Ms. Padmasri Appana was…