The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC) read with Regulation 30A(1)(b) of the Corporate Insolvency Resolution Process (CIRP) Regulations, seeking the closure of the CIRP initiated against the Corporate Debtor, M/S KALEDONIA JUTE AND FIBRES PVT LTD. The CIRP was initiated vide order dated August 27, 2021.
The CIRP was initiated against M/S KALEDONIA JUTE AND FIBRES PVT LTD on August 27, 2021. Subsequently, the suspended management of the Corporate Debtor and the Financial Creditor reached a settlement, culminating in the submission of Form FA on October 1, 2021. The CoC approved the proposal for withdrawal of the CIRP with 100% voting share. The IRP submitted that no other claimants had filed claims against the Corporate Debtor. This submission was crucial for the court's decision to allow the withdrawal of the CIRP.
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CIRP initiated against…
Suspended management…
The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC) read with Regulation 30A(1)(b) of the Corporate Insolvency Resolution Process (CIRP) Regulations, seeking the closure of the CIRP initiated against the Corporate Debtor, M/S KALEDONIA JUTE AND FIBRES PVT LTD. The CIRP was initiated vide order dated August 27, 2021.
The CIRP was initiated against M/S KALEDONIA JUTE AND FIBRES PVT LTD on August 27, 2021. Subsequently, the suspended management of the Corporate Debtor and the Financial Creditor reached a settlement, culminating in the submission of Form FA on October 1, 2021. The CoC approved the proposal for withdrawal of the CIRP with 100% voting share. The IRP submitted that no other claimants had filed claims against the Corporate Debtor. This submission was crucial for the court's decision to allow the withdrawal of the CIRP.
CIRP initiated against…
Suspended management…