The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking withdrawal of the main Insolvency and Bankruptcy (IB) application. The applicant's consent, in Form FA, is placed on record. The sole Committee of Creditors (CoC) member approved a resolution with 100% voting to allow the withdrawal of the main IB application. A copy of the consent term executed between the Operational Creditor and the corporate debtor was also placed on record.
Bhavesh Rikabchand Mehta, Proprietor of Lakshya International, filed an application against Heat Therm Pvt Ltd. The Interim Resolution Professional (IRP) filed an application under Section 12A of the IBC, 2016, to withdraw the main IB application. The applicant's consent in Form FA was placed on record. The sole CoC member approved the withdrawal with 100% voting in a meeting held on 2021-10-07. A consent term executed between the Operational Creditor and the corporate debtor on 2021-10-07 was also placed on record. The IRP is seeking to withdraw the application. The court considered these submissions and documents.
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The sole CoC member passed a resolution with…
Consent term duly…
The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking withdrawal of the main Insolvency and Bankruptcy (IB) application. The applicant's consent, in Form FA, is placed on record. The sole Committee of Creditors (CoC) member approved a resolution with 100% voting to allow the withdrawal of the main IB application. A copy of the consent term executed between the Operational Creditor and the corporate debtor was also placed on record.
Bhavesh Rikabchand Mehta, Proprietor of Lakshya International, filed an application against Heat Therm Pvt Ltd. The Interim Resolution Professional (IRP) filed an application under Section 12A of the IBC, 2016, to withdraw the main IB application. The applicant's consent in Form FA was placed on record. The sole CoC member approved the withdrawal with 100% voting in a meeting held on 2021-10-07. A consent term executed between the Operational Creditor and the corporate debtor on 2021-10-07 was also placed on record. The IRP is seeking to withdraw the application. The court considered these submissions and documents.
The sole CoC member passed a resolution with…
Consent term duly…