The case involves CP(IB) No. 989/KB/2018 and CA(IB) No. 576/KB/2019 before the National Company Law Tribunal, Kolkata Bench. CA(IB) No. 576/KB/2019 was filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of the main petition. The Committee of Creditors (CoC) consented to the withdrawal with a 100% vote share in its meeting dated April 18, 2019.
The corporate insolvency resolution process was initiated against Foil Forms -Vs- Bewell Labs Pvt. Ltd. An Interim Resolution Professional (IRP) was appointed. The IRP filed an application (CA(IB) No. 576/KB/2019) under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of the main insolvency petition (CP(IB) No. 989/KB/2018). The Committee of Creditors (CoC) approved the withdrawal with a 100% vote share in a meeting held on April 18, 2019. The Operational Creditor did not object to the withdrawal. The relevance of these facts lies in demonstrating the procedural compliance with Section 12A of the IBC and the unanimous support for the withdrawal.
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Committee of Creditors (CoC) consented to the…
Hearing on the…
The case involves CP(IB) No. 989/KB/2018 and CA(IB) No. 576/KB/2019 before the National Company Law Tribunal, Kolkata Bench. CA(IB) No. 576/KB/2019 was filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of the main petition. The Committee of Creditors (CoC) consented to the withdrawal with a 100% vote share in its meeting dated April 18, 2019.
The corporate insolvency resolution process was initiated against Foil Forms -Vs- Bewell Labs Pvt. Ltd. An Interim Resolution Professional (IRP) was appointed. The IRP filed an application (CA(IB) No. 576/KB/2019) under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of the main insolvency petition (CP(IB) No. 989/KB/2018). The Committee of Creditors (CoC) approved the withdrawal with a 100% vote share in a meeting held on April 18, 2019. The Operational Creditor did not object to the withdrawal. The relevance of these facts lies in demonstrating the procedural compliance with Section 12A of the IBC and the unanimous support for the withdrawal.
Committee of Creditors (CoC) consented to the…
Hearing on the…