The case involves a petition filed by Ashtech. Buildpro (P) Ltd, the Operational Creditor, against Grip Infrastructure (P) Ltd, the Corporate Debtor, under Section 9 of the IBC, 2016. The petition was admitted on 03.12.2018, initiating the Corporate Insolvency Resolution Process (CIRP). However, the Operational Creditor failed to file its claim, and the Interim Resolution Professional (IRP) reported that the directors of the Corporate Debtor were untraceable. The Operational Creditor then sought to withdraw the petition after its admission.
Ashtech. Buildpro (P) Ltd, an Operational Creditor, filed a petition against Grip Infrastructure (P) Ltd, a Corporate Debtor, under Section 9 of the IBC, 2016, claiming Rs.12,23,911/-. The petition was admitted on 03.12.2018, initiating CIRP, with Mr. Alok Kumar Agarwal appointed as IRP. The IRP's counsel stated that a public announcement was made on 10.1.2019, but no claim was received. The Operational Creditor did not file its claim, and the IRP reported that the Corporate Debtor's directors were untraceable. The Operational Creditor then sought to withdraw the petition. The IRP's fees amounted to Rs.1,55,773/-, and he was legitimately entitled to Rs.1,45,000/-. The Tribunal noted the Operational Creditor's failure to participate earnestly in the CIRP and to inform
…Sign in to view the parties.
The petition filed by Ashtech. Buildpro (P)…
A public announcement…
The case involves a petition filed by Ashtech. Buildpro (P) Ltd, the Operational Creditor, against Grip Infrastructure (P) Ltd, the Corporate Debtor, under Section 9 of the IBC, 2016. The petition was admitted on 03.12.2018, initiating the Corporate Insolvency Resolution Process (CIRP). However, the Operational Creditor failed to file its claim, and the Interim Resolution Professional (IRP) reported that the directors of the Corporate Debtor were untraceable. The Operational Creditor then sought to withdraw the petition after its admission.
Ashtech. Buildpro (P) Ltd, an Operational Creditor, filed a petition against Grip Infrastructure (P) Ltd, a Corporate Debtor, under Section 9 of the IBC, 2016, claiming Rs.12,23,911/-. The petition was admitted on 03.12.2018, initiating CIRP, with Mr. Alok Kumar Agarwal appointed as IRP. The IRP's counsel stated that a public announcement was made on 10.1.2019, but no claim was received. The Operational Creditor did not file its claim, and the IRP reported that the Corporate Debtor's directors were untraceable. The Operational Creditor then sought to withdraw the petition. The IRP's fees amounted to Rs.1,55,773/-, and he was legitimately entitled to Rs.1,45,000/-. The Tribunal noted the Operational Creditor's failure to participate earnestly in the CIRP and to inform
…The petition filed by Ashtech. Buildpro (P)…
A public announcement…