The case involves an application (IA 237 of 2020) filed in connection with a Corporate Insolvency Resolution Process (CIRP) under C.P.(I.B) No. 42/NCLT/AHM/2020. The application seeks withdrawal of the CIRP, which was admitted on 2020-03-17. The Operational Creditor, through its PCS, has stated that the Corporate Debtor has paid the due amount. The Committee of Creditors (COC) has not yet been constituted.
The following facts are relevant: An application (IA 237 of 2020) was filed in C.P.(I.B) No. 42/NCLT/AHM/2020. The application was filed under Section 60(5) r.w. Section 12A of the IB Code r.w. Regulation 30A & Rule 11 of NCLT Rules, 2016, seeking withdrawal of the CIRP. The CIRP was admitted on 2020-03-17. The Operational Creditor stated that the Corporate Debtor had paid the due amount. The Petitioner intends to withdraw the C.P. (I.B) No. 42/2020. The COC is not yet constituted. The IRP, Mr. Kailash T Shah, provided a 'no objection' certificate. The application is filed under section-9 of the IB Code.
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The Corporate…
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The case involves an application (IA 237 of 2020) filed in connection with a Corporate Insolvency Resolution Process (CIRP) under C.P.(I.B) No. 42/NCLT/AHM/2020. The application seeks withdrawal of the CIRP, which was admitted on 2020-03-17. The Operational Creditor, through its PCS, has stated that the Corporate Debtor has paid the due amount. The Committee of Creditors (COC) has not yet been constituted.
The following facts are relevant: An application (IA 237 of 2020) was filed in C.P.(I.B) No. 42/NCLT/AHM/2020. The application was filed under Section 60(5) r.w. Section 12A of the IB Code r.w. Regulation 30A & Rule 11 of NCLT Rules, 2016, seeking withdrawal of the CIRP. The CIRP was admitted on 2020-03-17. The Operational Creditor stated that the Corporate Debtor had paid the due amount. The Petitioner intends to withdraw the C.P. (I.B) No. 42/2020. The COC is not yet constituted. The IRP, Mr. Kailash T Shah, provided a 'no objection' certificate. The application is filed under section-9 of the IB Code.
The Corporate…
The court allo…