The case involves an application (MA 250/2020) filed by the Applicant CoC under Section 12A of the Insolvency and Bankruptcy Code for the withdrawal of the CIRP petition. A CIRP order (CP (IB) 2120/2019) was previously passed against the Corporate Debtor, Global Sourcing & Procurement Consolidation Ltd, on 22.10.2019. Another CIRP order was also passed against the same Corporate Debtor on 13.11.2019.
An application (MA 250/2020) was filed by the Applicant CoC under Section 12A of the Insolvency and Bankruptcy Code for the withdrawal of the CIRP petition. A CIRP order (CP (IB) 2120/2019) was passed against Global Sourcing & Procurement Consolidation Ltd on 22.10.2019. Another CIRP order was passed against the same Corporate Debtor on 13.11.2019. The court considered the validity of the second CIRP order in light of the first. The Applicant CoC sought to withdraw the CIRP petition, leading to the present order.
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CIRP Order (CP (IB)…
Another CIRP Order was…
The case involves an application (MA 250/2020) filed by the Applicant CoC under Section 12A of the Insolvency and Bankruptcy Code for the withdrawal of the CIRP petition. A CIRP order (CP (IB) 2120/2019) was previously passed against the Corporate Debtor, Global Sourcing & Procurement Consolidation Ltd, on 22.10.2019. Another CIRP order was also passed against the same Corporate Debtor on 13.11.2019.
An application (MA 250/2020) was filed by the Applicant CoC under Section 12A of the Insolvency and Bankruptcy Code for the withdrawal of the CIRP petition. A CIRP order (CP (IB) 2120/2019) was passed against Global Sourcing & Procurement Consolidation Ltd on 22.10.2019. Another CIRP order was passed against the same Corporate Debtor on 13.11.2019. The court considered the validity of the second CIRP order in light of the first. The Applicant CoC sought to withdraw the CIRP petition, leading to the present order.
CIRP Order (CP (IB)…
Another CIRP Order was…