The present CA No.158/18 has been filed by the RP seeking withdrawal of the CIRP and to release the Corporate Debtor from the ambit of law. The application for withdrawal is based on Section 12(a) of the I&B Code, 2016, which allows withdrawal of the application after admission under Sections 7, 9, and 10 of the IBC, provided that 90% of the voting share of the COC approves.
The Resolution Professional (RP) filed CA No. 158/18 seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) and release of the Corporate Debtor from the ambit of law. The withdrawal application is based on Section 12(a) of the Insolvency and Bankruptcy Code (IBC), 2016. The application was filed after admission under Sections 7, 9, and 10 of the IBC. The Committee of Creditors (COC) approved the withdrawal with 90% of the voting share. The progress report indicates that the withdrawal of the petition has been approved by the COC with 100% of the voting share.
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Corporate Ins…
Hearing of Allahabad…
The present CA No.158/18 has been filed by the RP seeking withdrawal of the CIRP and to release the Corporate Debtor from the ambit of law. The application for withdrawal is based on Section 12(a) of the I&B Code, 2016, which allows withdrawal of the application after admission under Sections 7, 9, and 10 of the IBC, provided that 90% of the voting share of the COC approves.
The Resolution Professional (RP) filed CA No. 158/18 seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) and release of the Corporate Debtor from the ambit of law. The withdrawal application is based on Section 12(a) of the Insolvency and Bankruptcy Code (IBC), 2016. The application was filed after admission under Sections 7, 9, and 10 of the IBC. The Committee of Creditors (COC) approved the withdrawal with 90% of the voting share. The progress report indicates that the withdrawal of the petition has been approved by the COC with 100% of the voting share.
Corporate Ins…
Hearing of Allahabad…