The present application was filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), seeking to withdraw the main Company Petition No. 2753/ND/2019. The IRP submitted that they received Form FA from the Operational Creditor, which was enclosed at page 14 of the application, indicating a settlement between the Operational Creditor and the Suspended Board of Director of the Corporate Debtor.
The Interim Resolution Professional (IRP) filed an application under Section 12A of the IBC to withdraw the main Company Petition No. IB-2753/ND/2019. The IRP received Form FA from the Operational Creditor, indicating a settlement with the Suspended Board of Director of the Corporate Debtor. This Form FA was enclosed at page 14 of the application. The Resolution Professional's contention was supported by the counsel for the Operational Creditor and the Suspended Board of Director. The CoC was constituted and approved the settlement via a resolution dated August 28, 2020, with 100% voting, as shown on page 30 of the application. The key fact is the settlement between the Operational Creditor and the Suspended Board of Director, leading to the withdrawal application.
Sign in to view the parties.
Main application…
The CoC approved the…
The present application was filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), seeking to withdraw the main Company Petition No. 2753/ND/2019. The IRP submitted that they received Form FA from the Operational Creditor, which was enclosed at page 14 of the application, indicating a settlement between the Operational Creditor and the Suspended Board of Director of the Corporate Debtor.
The Interim Resolution Professional (IRP) filed an application under Section 12A of the IBC to withdraw the main Company Petition No. IB-2753/ND/2019. The IRP received Form FA from the Operational Creditor, indicating a settlement with the Suspended Board of Director of the Corporate Debtor. This Form FA was enclosed at page 14 of the application. The Resolution Professional's contention was supported by the counsel for the Operational Creditor and the Suspended Board of Director. The CoC was constituted and approved the settlement via a resolution dated August 28, 2020, with 100% voting, as shown on page 30 of the application. The key fact is the settlement between the Operational Creditor and the Suspended Board of Director, leading to the withdrawal application.
Main application…
The CoC approved the…