The case involves an application (IA/378/2020 IN IBA/1195/2019) filed for the withdrawal of a Section 9 application under Section 12A of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) in relation to the Corporate Debtor, with an order dated 05.05.2020. The Interim Resolution Professional (IRP) was appointed by the Tribunal. The IRP made paper publications as required under the IBC, 2016, in “Financial Express” and “Makkal Kural” on 10.05.2020. The Operational Creditor and the Corporate Debtor jointly arrived at a compromise and a "Compromise Agreement" was entered into on 21.05.2020.
An application was filed for withdrawal of a Section 9 application under Section 12A of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated under Section 9 of the IBC, 2016, in relation to the Corporate Debtor, with an order dated 05.05.2020. The Interim Resolution Professional (IRP) was appointed. The IRP made paper publications in “Financial Express” and “Makkal Kural” on 10.05.2020. Despite 20 days elapsing, no claims were filed by the Creditors of the Corporate Debtor. The Operational Creditor and the Corporate Debtor jointly arrived at a compromise and a "Compromise Agreement" was entered into on 21.05.2020. No Committee of Creditors (CoC) was constituted. Form 'FA' submitted by the Applicant / Operational Creditor has been annexed as
…Sign in to view the parties.
Order initiating the Corporate Insolvency…
The Interim Resolution Professional (IRP) made…
The case involves an application (IA/378/2020 IN IBA/1195/2019) filed for the withdrawal of a Section 9 application under Section 12A of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) in relation to the Corporate Debtor, with an order dated 05.05.2020. The Interim Resolution Professional (IRP) was appointed by the Tribunal. The IRP made paper publications as required under the IBC, 2016, in “Financial Express” and “Makkal Kural” on 10.05.2020. The Operational Creditor and the Corporate Debtor jointly arrived at a compromise and a "Compromise Agreement" was entered into on 21.05.2020.
An application was filed for withdrawal of a Section 9 application under Section 12A of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated under Section 9 of the IBC, 2016, in relation to the Corporate Debtor, with an order dated 05.05.2020. The Interim Resolution Professional (IRP) was appointed. The IRP made paper publications in “Financial Express” and “Makkal Kural” on 10.05.2020. Despite 20 days elapsing, no claims were filed by the Creditors of the Corporate Debtor. The Operational Creditor and the Corporate Debtor jointly arrived at a compromise and a "Compromise Agreement" was entered into on 21.05.2020. No Committee of Creditors (CoC) was constituted. Form 'FA' submitted by the Applicant / Operational Creditor has been annexed as
…Order initiating the Corporate Insolvency…
The Interim Resolution Professional (IRP) made…