The case involves an application (I.A.No.552/2019) filed in C.P.(IB)No.217/BB/2018 by Ms. Manjula B.S., the Interim Resolution Professional (IRP) of M/s. Golden Gate Ventures Pvt. Ltd., under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The application sought the consideration and approval for the withdrawal of the main application, which was admitted under Section 9 of the IBC, 2016. The original Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by M/s. P.E. Analytics Private Limited, an Operational Creditor, against M/s. Golden Gate Ventures Pvt. Ltd., the Corporate Debtor, due to a default of Rs. 12,04,500/-
…M/s. P.E. Analytics Private Limited, an Operational Creditor, filed C.P.(IB)No.217/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate CIRP against M/s. Golden Gate Ventures Pvt. Ltd., the Corporate Debtor, due to a default of Rs. 12,04,500/- plus interest of Rs. 6,26,856/-. The Adjudicating Authority admitted the case on 2019-09-30, initiating CIRP and appointing Ms. Manjula B.S. as the IRP. The IRP was to make a public announcement regarding the initiation of CIRP. However, before the public announcement, the Corporate Debtor settled the dues with the Operational Creditor for Rs. 8,00,000. Consequently, FORM FA was submitted to the IRP for withdrawal of the application. The IRP, Ms. Manjula B.S., then filed I.A.No.552/2019 under Section 12A of the IBC,
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M/s. P.E. Analytics Private Limited filed…
Insolvency and Bankruptcy Board of India issued…
The case involves an application (I.A.No.552/2019) filed in C.P.(IB)No.217/BB/2018 by Ms. Manjula B.S., the Interim Resolution Professional (IRP) of M/s. Golden Gate Ventures Pvt. Ltd., under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The application sought the consideration and approval for the withdrawal of the main application, which was admitted under Section 9 of the IBC, 2016. The original Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by M/s. P.E. Analytics Private Limited, an Operational Creditor, against M/s. Golden Gate Ventures Pvt. Ltd., the Corporate Debtor, due to a default of Rs. 12,04,500/-
…M/s. P.E. Analytics Private Limited, an Operational Creditor, filed C.P.(IB)No.217/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate CIRP against M/s. Golden Gate Ventures Pvt. Ltd., the Corporate Debtor, due to a default of Rs. 12,04,500/- plus interest of Rs. 6,26,856/-. The Adjudicating Authority admitted the case on 2019-09-30, initiating CIRP and appointing Ms. Manjula B.S. as the IRP. The IRP was to make a public announcement regarding the initiation of CIRP. However, before the public announcement, the Corporate Debtor settled the dues with the Operational Creditor for Rs. 8,00,000. Consequently, FORM FA was submitted to the IRP for withdrawal of the application. The IRP, Ms. Manjula B.S., then filed I.A.No.552/2019 under Section 12A of the IBC,
…M/s. P.E. Analytics Private Limited filed…
Insolvency and Bankruptcy Board of India issued…