The case involves an application filed by Devang Sampat, the Interim Resolution Professional (IRP) of Beackon Logistics Pvt. Ltd., seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated by Fedex Express Transportation & Supply Chain Services (India) Pvt. Ltd. The CIRP was initiated vide order dated 05.11.2019. The application for withdrawal is based on a settlement reached between the parties.
Fedex Express Transportation & Supply Chain Services (India) Pvt. Ltd. filed a petition against Beackon Logistics Pvt. Ltd., which was admitted on 05.11.2019, initiating the Corporate Insolvency Resolution Process (CIRP). Devang Sampat was appointed as the Interim Resolution Professional (IRP). Subsequently, a settlement was reached between Fedex and Beackon Logistics. Devang Sampat, as the IRP, filed a Miscellaneous Application seeking withdrawal of the CIRP under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016. The settlement was reached before the formation of the Committee of Creditors (CoC). The IRP communicated the CIRP cost to the petitioner, amounting to Rs.2,24,341/-. The application for withdrawal was made before the publication of a public
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The petition filed by Fedex Express…
The Bench confirmed the applicant, Mr.…
The case involves an application filed by Devang Sampat, the Interim Resolution Professional (IRP) of Beackon Logistics Pvt. Ltd., seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated by Fedex Express Transportation & Supply Chain Services (India) Pvt. Ltd. The CIRP was initiated vide order dated 05.11.2019. The application for withdrawal is based on a settlement reached between the parties.
Fedex Express Transportation & Supply Chain Services (India) Pvt. Ltd. filed a petition against Beackon Logistics Pvt. Ltd., which was admitted on 05.11.2019, initiating the Corporate Insolvency Resolution Process (CIRP). Devang Sampat was appointed as the Interim Resolution Professional (IRP). Subsequently, a settlement was reached between Fedex and Beackon Logistics. Devang Sampat, as the IRP, filed a Miscellaneous Application seeking withdrawal of the CIRP under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016. The settlement was reached before the formation of the Committee of Creditors (CoC). The IRP communicated the CIRP cost to the petitioner, amounting to Rs.2,24,341/-. The application for withdrawal was made before the publication of a public
…The petition filed by Fedex Express…
The Bench confirmed the applicant, Mr.…