The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of the main insolvency application. The application for admitting and initiating the Corporate Insolvency Resolution Process (CIRP) had been previously approved on 2021-07-07.
The Interim Resolution Professional (IRP) filed an application under Section 12A of the Insolvency & Bankruptcy Code, 2016, to withdraw the main insolvency application. The CIRP order was initially passed on 2021-07-07. A settlement agreement was reached between the parties, and the Operational Creditor provided consent in Form 'FA'. The IRP confirmed that cheques had been issued to the Operational Creditor and the IRP. The application IB-3108/ND/2019 was for initiating CIRP.
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Order passed admitting…
Order delivered allowing the application…
The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of the main insolvency application. The application for admitting and initiating the Corporate Insolvency Resolution Process (CIRP) had been previously approved on 2021-07-07.
The Interim Resolution Professional (IRP) filed an application under Section 12A of the Insolvency & Bankruptcy Code, 2016, to withdraw the main insolvency application. The CIRP order was initially passed on 2021-07-07. A settlement agreement was reached between the parties, and the Operational Creditor provided consent in Form 'FA'. The IRP confirmed that cheques had been issued to the Operational Creditor and the IRP. The application IB-3108/ND/2019 was for initiating CIRP.
Order passed admitting…
Order delivered allowing the application…