The case involves an application filed by the Interim Resolution Professional (IRP) of M/s. GBJ Hotels Private Limited under Section 12A of the Insolvency & Bankruptcy Code, 2016, seeking withdrawal of the Company Petition filed by the Operational Creditor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application filed by the Operational Creditor, Gopal Das Mundhra, under Section 9 of the IBC, 2016. The Tribunal admitted the petition and initiated CIRP on 2021-05-31, appointing the applicant as the IRP.
Gopal Das Mundhra, an Operational Creditor, filed an application under Section 9 of the IBC, 2016, against M/s. GBJ Hotels Private Limited (Corporate Debtor). The NCLT admitted the petition on 2021-05-31 and initiated the CIRP, appointing Arpit Kothari as the Interim Resolution Professional (IRP). Before the public announcement, the Operational Creditor communicated to the IRP on 2021-06-02 that the parties had reached an amicable settlement. A Memorandum of Understanding was entered into, where the Corporate Debtor agreed to pay Rs. 19,50,000/- as full and final settlement. The IRP received fees of Rs. 1,00,000/- from the Operational Creditor. The IRP then filed an application under Section 12A of the IBC, 2016, read with Regulation 30A of the IBBI Regulations,
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The Tribunal admitted the petition filed by…
Arpit Kothari was…
The case involves an application filed by the Interim Resolution Professional (IRP) of M/s. GBJ Hotels Private Limited under Section 12A of the Insolvency & Bankruptcy Code, 2016, seeking withdrawal of the Company Petition filed by the Operational Creditor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application filed by the Operational Creditor, Gopal Das Mundhra, under Section 9 of the IBC, 2016. The Tribunal admitted the petition and initiated CIRP on 2021-05-31, appointing the applicant as the IRP.
Gopal Das Mundhra, an Operational Creditor, filed an application under Section 9 of the IBC, 2016, against M/s. GBJ Hotels Private Limited (Corporate Debtor). The NCLT admitted the petition on 2021-05-31 and initiated the CIRP, appointing Arpit Kothari as the Interim Resolution Professional (IRP). Before the public announcement, the Operational Creditor communicated to the IRP on 2021-06-02 that the parties had reached an amicable settlement. A Memorandum of Understanding was entered into, where the Corporate Debtor agreed to pay Rs. 19,50,000/- as full and final settlement. The IRP received fees of Rs. 1,00,000/- from the Operational Creditor. The IRP then filed an application under Section 12A of the IBC, 2016, read with Regulation 30A of the IBBI Regulations,
…The Tribunal admitted the petition filed by…
Arpit Kothari was…