The case involves CA 83/2019, a status report filed by the Resolution Professional (RP), and CA 82/2019, filed under Sections 19(2) and 19(3) of the Insolvency and Bankruptcy Code (IBC). The bench was notified that no claims were received against the Corporate Debtor following a publication. The sole claimant, an Operational Creditor, decided to terminate the Corporate Insolvency Resolution (CIR) process because their claim was settled.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Funbars Hospitality Pvt. Ltd. A public announcement was made, but no claims were received against the Corporate Debtor, except for one Operational Creditor. The Operational Creditor subsequently settled their claim and decided to terminate the CIRP. CA 83/2019 was filed as a status report by the RP, and CA 82/2019 was filed under Sections 19(2) and 19(3) of the IBC. The settlement of the Operational Creditor's claim is the key fact that led to the termination of the CIRP.
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Hearing before the New…
CA 83/2019 file…
The case involves CA 83/2019, a status report filed by the Resolution Professional (RP), and CA 82/2019, filed under Sections 19(2) and 19(3) of the Insolvency and Bankruptcy Code (IBC). The bench was notified that no claims were received against the Corporate Debtor following a publication. The sole claimant, an Operational Creditor, decided to terminate the Corporate Insolvency Resolution (CIR) process because their claim was settled.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Funbars Hospitality Pvt. Ltd. A public announcement was made, but no claims were received against the Corporate Debtor, except for one Operational Creditor. The Operational Creditor subsequently settled their claim and decided to terminate the CIRP. CA 83/2019 was filed as a status report by the RP, and CA 82/2019 was filed under Sections 19(2) and 19(3) of the IBC. The settlement of the Operational Creditor's claim is the key fact that led to the termination of the CIRP.
Hearing before the New…
CA 83/2019 file…