The case involves M/s. Industrial Supply Syndicate Vs. M/s Classic And Continental Services Pvt. Ltd. The RP (Resolution Professional) filed CA(IB)No.1510/KB/2019 under Section 12A of the I & B Code, 2016, seeking withdrawal of the main petition CP(IB)No.1504/KB/2018. The basis for the withdrawal is a settlement reached between the parties after the admission of the Corporate Debtor into the Corporate Insolvency Resolution Process (CIRP).
M/s. Industrial Supply Syndicate initiated insolvency proceedings against M/s Classic And Continental Services Pvt. Ltd. The Corporate Debtor was admitted into CIRP. Subsequently, the parties reached a settlement. The Resolution Professional (RP) then filed an application, CA(IB)No.1510/KB/2019, under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking to withdraw the initial insolvency petition, CP(IB)No.1504/KB/2018. The court noted the settlement and the RP's presence and representation.
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The initial Corporate Insolvency…
Hearing held on…
The case involves M/s. Industrial Supply Syndicate Vs. M/s Classic And Continental Services Pvt. Ltd. The RP (Resolution Professional) filed CA(IB)No.1510/KB/2019 under Section 12A of the I & B Code, 2016, seeking withdrawal of the main petition CP(IB)No.1504/KB/2018. The basis for the withdrawal is a settlement reached between the parties after the admission of the Corporate Debtor into the Corporate Insolvency Resolution Process (CIRP).
M/s. Industrial Supply Syndicate initiated insolvency proceedings against M/s Classic And Continental Services Pvt. Ltd. The Corporate Debtor was admitted into CIRP. Subsequently, the parties reached a settlement. The Resolution Professional (RP) then filed an application, CA(IB)No.1510/KB/2019, under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking to withdraw the initial insolvency petition, CP(IB)No.1504/KB/2018. The court noted the settlement and the RP's presence and representation.
The initial Corporate Insolvency…
Hearing held on…