The case involves an application (CA(IB) No. 1528/KB/2019) filed by the Interim Resolution Professional (IRP) to record the settlement of a Corporate Insolvency Resolution Process (CIRP) matter. The Operational Creditor sought to withdraw the Corporate Insolvency Petition (CP) because the matter had been settled outside the Tribunal. The CP was admitted on 2019-10-16, but the Committee of Creditors (CoC) was not formed because no claims were received following a public announcement.
Rammaica India Ltd is the company involved in the case. An application CA(IB) No. 1528/KB/2019 was filed by the IRP to record the settlement of the matter. The Operational Creditor sought to withdraw the CP because the matter was settled outside the Tribunal. The CP was admitted on 2019-10-16, but the CoC was not formed because no claims were received following a public announcement. The IRP's fees and costs have been discharged. The application was filed under Section 9 of the IBC.
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The Corporate…
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The case involves an application (CA(IB) No. 1528/KB/2019) filed by the Interim Resolution Professional (IRP) to record the settlement of a Corporate Insolvency Resolution Process (CIRP) matter. The Operational Creditor sought to withdraw the Corporate Insolvency Petition (CP) because the matter had been settled outside the Tribunal. The CP was admitted on 2019-10-16, but the Committee of Creditors (CoC) was not formed because no claims were received following a public announcement.
Rammaica India Ltd is the company involved in the case. An application CA(IB) No. 1528/KB/2019 was filed by the IRP to record the settlement of the matter. The Operational Creditor sought to withdraw the CP because the matter was settled outside the Tribunal. The CP was admitted on 2019-10-16, but the CoC was not formed because no claims were received following a public announcement. The IRP's fees and costs have been discharged. The application was filed under Section 9 of the IBC.
The Corporate…
Hearing on the…