The case involves an application (IA(IB) No. 954/KB/2020) filed by Punjab National Bank (PNB), the petitioning Financial Creditor, through the Resolution Professional, under Section 12A of the Insolvency and Bankruptcy Code (IBC) read with Regulation 30(A)(1)(b) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The Corporate Insolvency Resolution Process (CIRP) had been initiated against the Corporate Debtor, Chhotanagpur Roadlines Pvt. Ltd., and the petitioning Financial Creditor and the Corporate Debtor have arrived at a mutual settlement.
The Punjab National Bank (PNB) initiated Corporate Insolvency Resolution Process (CIRP) against Chhotanagpur Roadlines Pvt. Ltd. The CIRP was initiated vide order dated 2019-07-15. Punjab National Bank filed an application (IA(IB) No. 954/KB/2020) under Section 12A of the IBC seeking withdrawal of the CIRP based on a mutual settlement with the Corporate Debtor. The Resolution Professional (RP), Niraj Agarwal, made a public announcement in two newspapers. The petitioning Financial Creditor (PNB) was the only party to submit a claim, which was submitted on 2020-09-21. The RP confirmed that all CIRP costs, including his fees, were fully paid by PNB. The insolvency commencement date was 2019-07-25.
Sign in to view the parties.
CIRP initiated against…
Insolvency comm…
The case involves an application (IA(IB) No. 954/KB/2020) filed by Punjab National Bank (PNB), the petitioning Financial Creditor, through the Resolution Professional, under Section 12A of the Insolvency and Bankruptcy Code (IBC) read with Regulation 30(A)(1)(b) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The Corporate Insolvency Resolution Process (CIRP) had been initiated against the Corporate Debtor, Chhotanagpur Roadlines Pvt. Ltd., and the petitioning Financial Creditor and the Corporate Debtor have arrived at a mutual settlement.
The Punjab National Bank (PNB) initiated Corporate Insolvency Resolution Process (CIRP) against Chhotanagpur Roadlines Pvt. Ltd. The CIRP was initiated vide order dated 2019-07-15. Punjab National Bank filed an application (IA(IB) No. 954/KB/2020) under Section 12A of the IBC seeking withdrawal of the CIRP based on a mutual settlement with the Corporate Debtor. The Resolution Professional (RP), Niraj Agarwal, made a public announcement in two newspapers. The petitioning Financial Creditor (PNB) was the only party to submit a claim, which was submitted on 2020-09-21. The RP confirmed that all CIRP costs, including his fees, were fully paid by PNB. The insolvency commencement date was 2019-07-25.
CIRP initiated against…
Insolvency comm…