The case involves IA No. 261/2021 in CP No. (IB) 61/ALD/2019 before the National Company Law Tribunal, Allahabad Bench. The applicant sought to withdraw the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor under Section 12A of the Insolvency and Bankruptcy Code (IBC). The CIRP was triggered by an order dated 28.07.2021.
The Financial Creditor, Edelweiss Asset Reconstruction Company Ltd, initiated CIRP against the Corporate Debtor, Big Ben Developers Pvt Ltd. The CIRP was triggered by an order dated 28.07.2021. The Financial Creditor then filed IA No. 261/2021 seeking to withdraw the CIRP under Section 12A of the IBC before the constitution of the CoC. The application for withdrawal was based on reasons detailed in para no. 3 (iii, v, vi & vii). The Tribunal considered the submissions and allowed the withdrawal application.
Sign in to view the parties.
Tribunal passed an…
Tribunal allowed IA No.…
The case involves IA No. 261/2021 in CP No. (IB) 61/ALD/2019 before the National Company Law Tribunal, Allahabad Bench. The applicant sought to withdraw the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor under Section 12A of the Insolvency and Bankruptcy Code (IBC). The CIRP was triggered by an order dated 28.07.2021.
The Financial Creditor, Edelweiss Asset Reconstruction Company Ltd, initiated CIRP against the Corporate Debtor, Big Ben Developers Pvt Ltd. The CIRP was triggered by an order dated 28.07.2021. The Financial Creditor then filed IA No. 261/2021 seeking to withdraw the CIRP under Section 12A of the IBC before the constitution of the CoC. The application for withdrawal was based on reasons detailed in para no. 3 (iii, v, vi & vii). The Tribunal considered the submissions and allowed the withdrawal application.
Tribunal passed an…
Tribunal allowed IA No.…