The case involves an application (CA No. 179/2019) filed under Section 12A of the Insolvency & Bankruptcy Code, 2016, seeking the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor. The Operational Creditor proposed the withdrawal, which was initiated vide order dated 24.04.2019. The Committee of Creditors (COC), consisting of Union Bank of India as the sole member, approved the withdrawal with 100% voting in its meeting held on 21.05.2019.
AV Wires Private Limited initiated CIRP against Fortune Fasteners Private Limited. The CIRP was initiated vide order dated 24.04.2019. The Operational Creditor proposed the withdrawal of the CIRP. The COC, comprised of Union Bank of India as the sole member, approved the withdrawal with 100% voting in a meeting held on 21.05.2019. The application for withdrawal was filed under Section 12A of the Insolvency & Bankruptcy Code, 2016. The Company Secretary made submissions supporting the withdrawal. The IRP's expenses and fees were fully paid.
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CIRP initiated against…
The 1st COC meeting was held on 21.05.2019,…
The case involves an application (CA No. 179/2019) filed under Section 12A of the Insolvency & Bankruptcy Code, 2016, seeking the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor. The Operational Creditor proposed the withdrawal, which was initiated vide order dated 24.04.2019. The Committee of Creditors (COC), consisting of Union Bank of India as the sole member, approved the withdrawal with 100% voting in its meeting held on 21.05.2019.
AV Wires Private Limited initiated CIRP against Fortune Fasteners Private Limited. The CIRP was initiated vide order dated 24.04.2019. The Operational Creditor proposed the withdrawal of the CIRP. The COC, comprised of Union Bank of India as the sole member, approved the withdrawal with 100% voting in a meeting held on 21.05.2019. The application for withdrawal was filed under Section 12A of the Insolvency & Bankruptcy Code, 2016. The Company Secretary made submissions supporting the withdrawal. The IRP's expenses and fees were fully paid.
CIRP initiated against…
The 1st COC meeting was held on 21.05.2019,…