The case involves an application for withdrawal of a Corporate Insolvency Resolution Process (CIRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The initial order allowed the withdrawal subject to the payment of Rs. 1,00,000 as costs to the Prime Minister's National Relief Fund.
Jyoti Polypack LLP filed an application to withdraw CP(IB)-615/(MB)/2018 against Century Agro Chemicals Pvt Ltd under Section 12A of the IBC, 2016. The initial order dated 2019-08-08 allowed the withdrawal subject to a payment of Rs. 1,00,000 to the Prime Minister's National Relief Fund as costs. The applicant, Jyoti Polypack LLP, subsequently filed an additional affidavit annexing the receipt for the payment of the specified amount. The payment of Rs. 1,00,000 to the Prime Minister's National Relief Fund was a condition precedent for the withdrawal of the CIRP. The filing of the additional affidavit with the receipt demonstrates compliance with the court's earlier order.
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Order issued allowing withdrawal of CP…
Hearing of Mumbai Bench…
The case involves an application for withdrawal of a Corporate Insolvency Resolution Process (CIRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The initial order allowed the withdrawal subject to the payment of Rs. 1,00,000 as costs to the Prime Minister's National Relief Fund.
Jyoti Polypack LLP filed an application to withdraw CP(IB)-615/(MB)/2018 against Century Agro Chemicals Pvt Ltd under Section 12A of the IBC, 2016. The initial order dated 2019-08-08 allowed the withdrawal subject to a payment of Rs. 1,00,000 to the Prime Minister's National Relief Fund as costs. The applicant, Jyoti Polypack LLP, subsequently filed an additional affidavit annexing the receipt for the payment of the specified amount. The payment of Rs. 1,00,000 to the Prime Minister's National Relief Fund was a condition precedent for the withdrawal of the CIRP. The filing of the additional affidavit with the receipt demonstrates compliance with the court's earlier order.
Order issued allowing withdrawal of CP…
Hearing of Mumbai Bench…