The case involves an application (CA(IB) No. 1543/KB/2019) filed by the Operational Creditor under Rule 11 of the NCLT Rules, 2016, seeking permission to withdraw the Corporate Petition (CP). The reason for the withdrawal is that the matter has been settled out of the Tribunal between the Operational Creditor and the Corporate Debtor. The Interim Resolution Professional (IRP) appeared and submitted that despite a public announcement, no claim has been received, and no Committee of Creditors (CoC) has been formed.
M/s. Sohom Shipping Pvt. Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against Guru Shipping and Cleaning Pvt. Ltd. under Section 9 of the IBC. The Operational Creditor filed CA(IB) No. 1543/KB/2019 seeking permission to withdraw the CP because the matter was settled out of the Tribunal between the Operational Creditor and the Corporate Debtor. The IRP stated that no claims were received despite a public announcement, and no CoC was formed. The applicant was permitted to withdraw the CP.
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Rule 11 of the NCLT Rules, 2016 is mentioned,…
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The case involves an application (CA(IB) No. 1543/KB/2019) filed by the Operational Creditor under Rule 11 of the NCLT Rules, 2016, seeking permission to withdraw the Corporate Petition (CP). The reason for the withdrawal is that the matter has been settled out of the Tribunal between the Operational Creditor and the Corporate Debtor. The Interim Resolution Professional (IRP) appeared and submitted that despite a public announcement, no claim has been received, and no Committee of Creditors (CoC) has been formed.
M/s. Sohom Shipping Pvt. Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against Guru Shipping and Cleaning Pvt. Ltd. under Section 9 of the IBC. The Operational Creditor filed CA(IB) No. 1543/KB/2019 seeking permission to withdraw the CP because the matter was settled out of the Tribunal between the Operational Creditor and the Corporate Debtor. The IRP stated that no claims were received despite a public announcement, and no CoC was formed. The applicant was permitted to withdraw the CP.
Rule 11 of the NCLT Rules, 2016 is mentioned,…
Hearing on the matter…
Sign in to view related legal provisions.