The case involves an application for withdrawal of a company petition CP(IB) No. 581/9/HDB/2019, which was initially filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority had admitted the application on 04.01.2019, filed by Madras Steels and Tubes, an operational creditor, and appointed Mr. Kedarram Ramratan Laddha as the Interim Resolution Professional (IRP). Subsequently, Mr. Naga Bhushan was appointed as the Resolution Professional (RP), replacing the IRP. The application for withdrawal was filed under Section 12A of the IBC, 2016, read with Regulation 30A of the IBBI regulations.
Madras Steels and Tubes, an operational creditor, filed a company petition (CP(IB) No. 581/9/HDB/2018) against GE Godavari Engineering Ltd under Section 9 of the IBC. The Adjudicating Authority admitted the petition on 04.01.2019 and appointed an IRP. Subsequently, Mr. Naga Bhushan was appointed as the RP. During a meeting on 26.07.2019, the directors of GE Godavari Engineering Ltd informed the Committee of Creditors (COC) that they had settled their dues with Madras Steels & Tubes. Madras Steels & Tubes submitted Form FA for withdrawal of the application. The Director of the company submitted a No Objection Certificate (NOC) from the sole member of the COC, State Bank of India. The applicant paid all estimated expenses towards the insolvency resolution
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The Adjudicating Authority admitted the…
Mr. Naga Bhushan was appointed as the…
The case involves an application for withdrawal of a company petition CP(IB) No. 581/9/HDB/2019, which was initially filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority had admitted the application on 04.01.2019, filed by Madras Steels and Tubes, an operational creditor, and appointed Mr. Kedarram Ramratan Laddha as the Interim Resolution Professional (IRP). Subsequently, Mr. Naga Bhushan was appointed as the Resolution Professional (RP), replacing the IRP. The application for withdrawal was filed under Section 12A of the IBC, 2016, read with Regulation 30A of the IBBI regulations.
Madras Steels and Tubes, an operational creditor, filed a company petition (CP(IB) No. 581/9/HDB/2018) against GE Godavari Engineering Ltd under Section 9 of the IBC. The Adjudicating Authority admitted the petition on 04.01.2019 and appointed an IRP. Subsequently, Mr. Naga Bhushan was appointed as the RP. During a meeting on 26.07.2019, the directors of GE Godavari Engineering Ltd informed the Committee of Creditors (COC) that they had settled their dues with Madras Steels & Tubes. Madras Steels & Tubes submitted Form FA for withdrawal of the application. The Director of the company submitted a No Objection Certificate (NOC) from the sole member of the COC, State Bank of India. The applicant paid all estimated expenses towards the insolvency resolution
…The Adjudicating Authority admitted the…
Mr. Naga Bhushan was appointed as the…