The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and Rule 11 of the NCLT Rules, 2016, seeking withdrawal of the main petition. The Corporate Insolvency Resolution Process (CIRP) was initiated against JV Enterprise, with CP(IB) 16 of 2020 admitted on 2021-01-15. Subsequently, both parties reached a settlement, leading to the current application for withdrawal.
The Corporate Insolvency Resolution Process (CIRP) was initiated against JV Enterprise. CP(IB) 16 of 2020 was admitted on 2021-01-15. Subsequently, both parties entered into a settlement. An application was filed under Section 12A of the IBC, 2016, seeking withdrawal of the main petition. The Operational Creditor filed Form No. NCLT 12, and a partner of the Operational Creditor, Mr. Vishal Dilipkumar Barot, filed Form-FA for withdrawal of the CP(IB) No. 16 of 2020. The IRP confirmed receipt of dues and remuneration. The relevance of the settlement is that it forms the basis for the withdrawal application under Section 12A of the IBC, allowing the corporate debtor to be freed from the CIRP.
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Filing of CP(I…
CP(IB) 16 of 2020 was admitted, initiating the…
The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and Rule 11 of the NCLT Rules, 2016, seeking withdrawal of the main petition. The Corporate Insolvency Resolution Process (CIRP) was initiated against JV Enterprise, with CP(IB) 16 of 2020 admitted on 2021-01-15. Subsequently, both parties reached a settlement, leading to the current application for withdrawal.
The Corporate Insolvency Resolution Process (CIRP) was initiated against JV Enterprise. CP(IB) 16 of 2020 was admitted on 2021-01-15. Subsequently, both parties entered into a settlement. An application was filed under Section 12A of the IBC, 2016, seeking withdrawal of the main petition. The Operational Creditor filed Form No. NCLT 12, and a partner of the Operational Creditor, Mr. Vishal Dilipkumar Barot, filed Form-FA for withdrawal of the CP(IB) No. 16 of 2020. The IRP confirmed receipt of dues and remuneration. The relevance of the settlement is that it forms the basis for the withdrawal application under Section 12A of the IBC, allowing the corporate debtor to be freed from the CIRP.
Filing of CP(I…
CP(IB) 16 of 2020 was admitted, initiating the…