The case involves an application (I.A. No. 1188 of 2019) under Section 12A of the Insolvency and Bankruptcy Code (IBC) for the closure of the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor. The CIRP was initiated vide an order dated 03.10.2019. The Interim Resolution Professional (IRP) was confirmed as the Resolution Professional (RP) on 15.11.2019. Claims were received only from a sole Financial Creditor constituting the Committee of Creditors (CoC) and the Income Tax Department.
The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an order dated 03.10.2019. An Interim Resolution Professional (IRP) was appointed and later confirmed as the Resolution Professional (RP) on 15.11.2019. The RP published Form 'G' on 17.12.2019, inviting claims. The claims were received only from the sole Financial Creditor constituting the Committee of Creditors (CoC) and the Income Tax Department. The 9th CoC meeting held on 21.12.2020 resolved to close the CIRP, authorizing the RP to file an application for closure. The RP confirmed that all CIRP expenses had been paid. The key fact is that the CoC decided to close the CIRP, leading to the application under Section 12A of the IBC.
Sign in to view the parties.
CIRP was ini…
The IRP was co…
The case involves an application (I.A. No. 1188 of 2019) under Section 12A of the Insolvency and Bankruptcy Code (IBC) for the closure of the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor. The CIRP was initiated vide an order dated 03.10.2019. The Interim Resolution Professional (IRP) was confirmed as the Resolution Professional (RP) on 15.11.2019. Claims were received only from a sole Financial Creditor constituting the Committee of Creditors (CoC) and the Income Tax Department.
The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an order dated 03.10.2019. An Interim Resolution Professional (IRP) was appointed and later confirmed as the Resolution Professional (RP) on 15.11.2019. The RP published Form 'G' on 17.12.2019, inviting claims. The claims were received only from the sole Financial Creditor constituting the Committee of Creditors (CoC) and the Income Tax Department. The 9th CoC meeting held on 21.12.2020 resolved to close the CIRP, authorizing the RP to file an application for closure. The RP confirmed that all CIRP expenses had been paid. The key fact is that the CoC decided to close the CIRP, leading to the application under Section 12A of the IBC.
CIRP was ini…
The IRP was co…