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 for withdrawal of the application after admission under Sections 7, 9, and 10 of the IBC, provided there is approval of 90% of the voting share of the COC.
The Resolution Professional (RP) filed CA No. 158/18 seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The withdrawal application is based on Section 12(a) of the Insolvency and Bankruptcy Code (IBC), 2016. The application for withdrawal was filed after the admission of the CIRP under Sections 7, 9, and 10 of the IBC. The Committee of Creditors (COC) approved the withdrawal of the petition with 100% of the voting share. The court considered the amended provision of Section 12(a) of the IBC.
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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 for withdrawal of the application after admission under Sections 7, 9, and 10 of the IBC, provided there is approval of 90% of the voting share of the COC.
The Resolution Professional (RP) filed CA No. 158/18 seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The withdrawal application is based on Section 12(a) of the Insolvency and Bankruptcy Code (IBC), 2016. The application for withdrawal was filed after the admission of the CIRP under Sections 7, 9, and 10 of the IBC. The Committee of Creditors (COC) approved the withdrawal of the petition with 100% of the voting share. The court considered the amended provision of Section 12(a) of the IBC.
Corporate Ins…
Hearing of Allahabad…
Sign in to view related legal provisions.