The case involves an application filed by the Interim Resolution Professional (IRP), Mr. Sandeep Kumar Jain, submitting a progress report with minutes from the first Committee of Creditors (COC) meeting held on February 11, 2019. The settlement between the Operational Creditor and the Corporate Debtor, proposing the termination of the Corporate Insolvency Resolution (CIR) process, was put to vote and accepted by the COC with 100% voting share. The resolution is documented on Page No. 29 of the Progress Report, annexed with the IRP's affidavit.
The Interim Resolution Professional (IRP), Sandeep Kumar Jain, submitted a progress report detailing the minutes of the first Committee of Creditors (COC) meeting held on February 11, 2019. A settlement was reached between the Operational Creditor and the Corporate Debtor, proposing the termination of the Corporate Insolvency Resolution Process (CIRP). This proposal was put to a vote and received unanimous approval from the COC, representing 100% of the voting share. The resolution documenting this decision is included in the progress report. The key fact is the complete agreement among the COC members to terminate the CIRP, which formed the basis for the court's decision.
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The case involves an application filed by the Interim Resolution Professional (IRP), Mr. Sandeep Kumar Jain, submitting a progress report with minutes from the first Committee of Creditors (COC) meeting held on February 11, 2019. The settlement between the Operational Creditor and the Corporate Debtor, proposing the termination of the Corporate Insolvency Resolution (CIR) process, was put to vote and accepted by the COC with 100% voting share. The resolution is documented on Page No. 29 of the Progress Report, annexed with the IRP's affidavit.
The Interim Resolution Professional (IRP), Sandeep Kumar Jain, submitted a progress report detailing the minutes of the first Committee of Creditors (COC) meeting held on February 11, 2019. A settlement was reached between the Operational Creditor and the Corporate Debtor, proposing the termination of the Corporate Insolvency Resolution Process (CIRP). This proposal was put to a vote and received unanimous approval from the COC, representing 100% of the voting share. The resolution documenting this decision is included in the progress report. The key fact is the complete agreement among the COC members to terminate the CIRP, which formed the basis for the court's decision.
The first Comm…
The order was…
Sign in to view related legal provisions.