The case involves M/s Ultratech Cement Ltd. as the petitioner (operational creditor) and M/s. Cross Road Buildcon Pvt. Ltd. as the respondent (corporate debtor). The matter was brought under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Interim Resolution Professional (IRP) confirmed that no amount is due towards the services rendered, including expenses.
M/s Ultratech Cement Ltd. initiated insolvency proceedings against M/s. Cross Road Buildcon Pvt. Ltd. under Section 9 of the IBC. Ms. Deepa Sharma represented the operational creditor/petitioner, while Mr. Pardeep Kumar Mishra represented the respondent/corporate debtor. Mr. Devendra Lodha served as the IRP. The IRP confirmed that no amount was due for services rendered, including expenses. The operational creditor acknowledged receiving the due amount and applied for withdrawal of the matter under Section 12(A) of the IBC. This acknowledgment and subsequent withdrawal application are key facts leading to the dismissal of the insolvency proceedings.
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Order delivered on 29.06.2020, allowing the…
The case involves M/s Ultratech Cement Ltd. as the petitioner (operational creditor) and M/s. Cross Road Buildcon Pvt. Ltd. as the respondent (corporate debtor). The matter was brought under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Interim Resolution Professional (IRP) confirmed that no amount is due towards the services rendered, including expenses.
M/s Ultratech Cement Ltd. initiated insolvency proceedings against M/s. Cross Road Buildcon Pvt. Ltd. under Section 9 of the IBC. Ms. Deepa Sharma represented the operational creditor/petitioner, while Mr. Pardeep Kumar Mishra represented the respondent/corporate debtor. Mr. Devendra Lodha served as the IRP. The IRP confirmed that no amount was due for services rendered, including expenses. The operational creditor acknowledged receiving the due amount and applied for withdrawal of the matter under Section 12(A) of the IBC. This acknowledgment and subsequent withdrawal application are key facts leading to the dismissal of the insolvency proceedings.
Order delivered on 29.06.2020, allowing the…