The case involves two applications, CA Nos. 742/2019 and 743/2019, related to CP (IB) No. 243/Chd/Hry/2018, an admitted matter under the Insolvency and Bankruptcy Code, 2016. CA No. 742/2019 was filed by the Resolution Professional (RP) to bring to the court's notice an order by the Registrar of Companies (RoC), Delhi, striking off the name of the corporate debtor, Brown Multiwall Paper Bags Limited, from the register of companies during the pendency of the Company Petition. CA No. 743/2019 was filed by Brown Multiwall Paper Bags Ltd. through the RP, seeking withdrawal of the CP (IB) No. 243/Chd/Hry/2018 under Section 12A of the IBC, 2016, due to a settlement with the sole COC member, Phoenix ARC Pvt. Ltd.
Brown Multiwall Paper Bags Limited was undergoing CIRP, initiated on 2018-12-11. During the CIRP, the Registrar of Companies (RoC), Delhi, struck off the company's name from the register on 2018-08-08. The Resolution Professional (RP) filed CA No. 742/2019 to bring this to the court's attention. The corporate debtor, through a guarantor, entered into a settlement with Phoenix ARC Pvt. Ltd., the sole Committee of Creditors (COC) member, on 2019-08-02, agreeing to a settlement proposal. The COC resolved to withdraw the Corporate Insolvency Resolution Process (CIRP) and filed CA No. 743/2019 under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016. Phoenix ARC Pvt. Ltd. submitted a no-objection affidavit dated 2020-03-16, confirming the settlement. The
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Registrar of Companies, Delhi, struck off the…
CIRP proceedings were…
The case involves two applications, CA Nos. 742/2019 and 743/2019, related to CP (IB) No. 243/Chd/Hry/2018, an admitted matter under the Insolvency and Bankruptcy Code, 2016. CA No. 742/2019 was filed by the Resolution Professional (RP) to bring to the court's notice an order by the Registrar of Companies (RoC), Delhi, striking off the name of the corporate debtor, Brown Multiwall Paper Bags Limited, from the register of companies during the pendency of the Company Petition. CA No. 743/2019 was filed by Brown Multiwall Paper Bags Ltd. through the RP, seeking withdrawal of the CP (IB) No. 243/Chd/Hry/2018 under Section 12A of the IBC, 2016, due to a settlement with the sole COC member, Phoenix ARC Pvt. Ltd.
Brown Multiwall Paper Bags Limited was undergoing CIRP, initiated on 2018-12-11. During the CIRP, the Registrar of Companies (RoC), Delhi, struck off the company's name from the register on 2018-08-08. The Resolution Professional (RP) filed CA No. 742/2019 to bring this to the court's attention. The corporate debtor, through a guarantor, entered into a settlement with Phoenix ARC Pvt. Ltd., the sole Committee of Creditors (COC) member, on 2019-08-02, agreeing to a settlement proposal. The COC resolved to withdraw the Corporate Insolvency Resolution Process (CIRP) and filed CA No. 743/2019 under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016. Phoenix ARC Pvt. Ltd. submitted a no-objection affidavit dated 2020-03-16, confirming the settlement. The
…Registrar of Companies, Delhi, struck off the…
CIRP proceedings were…