The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A (1)(A) of the IBBI (CIRP) Regulations, 2016, seeking permission to withdraw a Company Petition (CP(IB)No.223/9/HDB/2019). The petition was initially admitted on 19.03.2020 under Section 9 of the IBC, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Goldfish Pharma Private Limited, and appointing an IRP. The IRP initiated necessary steps, including public announcement and intimation to concerned parties. Subsequently, the parties reached a settlement agreement to resolve the dues amicably.
Mundra Enterprises, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Goldfish Pharma Private Limited, the Corporate Debtor. The National Company Law Tribunal (NCLT), Hyderabad Bench, admitted the petition on 19.03.2020, initiating the Corporate Insolvency Resolution Process (CIRP) and appointing an Interim Resolution Professional (IRP), Satyanarayana Veera Venkata Chebrolu. After the public announcement, both parties agreed to settle the dues, executing a settlement agreement dated 29.05.2020, supplemented on 02.06.2020. The Corporate Debtor discharged the operational debt by tendering a Demand Draft of Rs. 51,15,751/- to the Operational Creditor, who then issued authorization in Form FA for the IRP to
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The Tribunal admitted the petition filed…
The Tribunal passed the…
The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A (1)(A) of the IBBI (CIRP) Regulations, 2016, seeking permission to withdraw a Company Petition (CP(IB)No.223/9/HDB/2019). The petition was initially admitted on 19.03.2020 under Section 9 of the IBC, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Goldfish Pharma Private Limited, and appointing an IRP. The IRP initiated necessary steps, including public announcement and intimation to concerned parties. Subsequently, the parties reached a settlement agreement to resolve the dues amicably.
Mundra Enterprises, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Goldfish Pharma Private Limited, the Corporate Debtor. The National Company Law Tribunal (NCLT), Hyderabad Bench, admitted the petition on 19.03.2020, initiating the Corporate Insolvency Resolution Process (CIRP) and appointing an Interim Resolution Professional (IRP), Satyanarayana Veera Venkata Chebrolu. After the public announcement, both parties agreed to settle the dues, executing a settlement agreement dated 29.05.2020, supplemented on 02.06.2020. The Corporate Debtor discharged the operational debt by tendering a Demand Draft of Rs. 51,15,751/- to the Operational Creditor, who then issued authorization in Form FA for the IRP to
…The Tribunal admitted the petition filed…
The Tribunal passed the…