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 against ASP Computers Pvt. Ltd. based on an order dated 05.05.2020. An Interim Resolution Professional (IRP) was appointed. The operational creditor and the corporate debtor jointly arrived at a compromise, and a 'Compromise Agreement' was entered into on 21.05.2020. The application for withdrawal was filed because no claims were submitted by the creditors, and no Committee of Creditors (CoC) was constituted.
An application (IA/378/2020) was filed to withdraw a Section 9 application under the IBC, 2016. The CIRP was initiated against ASP Computers Pvt. Ltd., with Mr. Chandrasekhar Sagotoor as the Interim Resolution Professional (IRP). The initial order for CIRP was dated 05.05.2020. The IRP made the required paper publications in 'Financial Express' and 'Makkal Kural' on 10.05.2020. Despite 20 days elapsing, no claims were filed by the creditors. The operational creditor and the corporate debtor reached a compromise agreement on 21.05.2020. No Committee of Creditors (CoC) was formed. The application for withdrawal was filed under Section 12A of the IBC, 2016, read with Regulation 30A. The applicant submitted Form 'FA', indicating that the IRP's fees and expenses had been
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Order was passed to initiate the Corporate…
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 against ASP Computers Pvt. Ltd. based on an order dated 05.05.2020. An Interim Resolution Professional (IRP) was appointed. The operational creditor and the corporate debtor jointly arrived at a compromise, and a 'Compromise Agreement' was entered into on 21.05.2020. The application for withdrawal was filed because no claims were submitted by the creditors, and no Committee of Creditors (CoC) was constituted.
An application (IA/378/2020) was filed to withdraw a Section 9 application under the IBC, 2016. The CIRP was initiated against ASP Computers Pvt. Ltd., with Mr. Chandrasekhar Sagotoor as the Interim Resolution Professional (IRP). The initial order for CIRP was dated 05.05.2020. The IRP made the required paper publications in 'Financial Express' and 'Makkal Kural' on 10.05.2020. Despite 20 days elapsing, no claims were filed by the creditors. The operational creditor and the corporate debtor reached a compromise agreement on 21.05.2020. No Committee of Creditors (CoC) was formed. The application for withdrawal was filed under Section 12A of the IBC, 2016, read with Regulation 30A. The applicant submitted Form 'FA', indicating that the IRP's fees and expenses had been
…Order was passed to initiate the Corporate…
The Interim Resolution Professional (IRP) made…