The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). An application under Section 12A of the IBC, 2016 read with Regulation 30 A of IBBI Regulations 2016 read with rule 11 of the NCLT Rules 2016 was filed seeking withdrawal of the application.
An application was filed under Section 9 of the IBC. Subsequently, an application under Section 12A of the IBC, 2016, read with Regulation 30A of the IBBI Regulations 2016 and Rule 11 of the NCLT Rules 2016, was filed seeking withdrawal of the initial application. The court heard the submissions of the learned counsel for the operational creditor and the IRP. The court then allowed the withdrawal application and dismissed the matter as withdrawn, freeing the company from the IRP process under the IBC. The reasons for allowing the withdrawal were stated in the said application.
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Order delivered on…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). An application under Section 12A of the IBC, 2016 read with Regulation 30 A of IBBI Regulations 2016 read with rule 11 of the NCLT Rules 2016 was filed seeking withdrawal of the application.
An application was filed under Section 9 of the IBC. Subsequently, an application under Section 12A of the IBC, 2016, read with Regulation 30A of the IBBI Regulations 2016 and Rule 11 of the NCLT Rules 2016, was filed seeking withdrawal of the initial application. The court heard the submissions of the learned counsel for the operational creditor and the IRP. The court then allowed the withdrawal application and dismissed the matter as withdrawn, freeing the company from the IRP process under the IBC. The reasons for allowing the withdrawal were stated in the said application.
Order delivered on…