An application has been filed under Section 12(A) of the IBC for withdrawal of the proceedings. The applicant submitted that the entire dues have been settled, and a resolution has been passed by the COC comprising a single Financial Creditor approving the withdrawal of the present proceedings.
The key facts are as follows: An application was filed under Section 12(A) of the IBC for the withdrawal of CIR proceedings. The entire dues had been settled. The COC, comprising a single Financial Creditor, approved the withdrawal. The Corporate Debtor undertook to pay all expenses involved in the process. These facts are relevant because they demonstrate compliance with the requirements for withdrawal of CIR proceedings under the IBC.
Sign in to view the parties.
Hearing before the New…
Sign in to view related legal provisions.
An application has been filed under Section 12(A) of the IBC for withdrawal of the proceedings. The applicant submitted that the entire dues have been settled, and a resolution has been passed by the COC comprising a single Financial Creditor approving the withdrawal of the present proceedings.
The key facts are as follows: An application was filed under Section 12(A) of the IBC for the withdrawal of CIR proceedings. The entire dues had been settled. The COC, comprising a single Financial Creditor, approved the withdrawal. The Corporate Debtor undertook to pay all expenses involved in the process. These facts are relevant because they demonstrate compliance with the requirements for withdrawal of CIR proceedings under the IBC.
Hearing before the New…
Sign in to view related legal provisions.