The application was filed by the Resolution Professional (RP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking permission to withdraw the Company Petition No. 1753/2019. The petition was admitted on 2019-10-16 based on a settlement between the parties.
M/s. Simba Logistics Pvt. Ltd. filed an application against M/s. Hindustan Online Trade Pvt. Ltd. under Section 9 of the IBC, 2016. The application was admitted on 2019-10-16, initiating CIRP. Subsequently, a settlement was reached between the parties. The Resolution Professional (RP) filed an application (IA/3579/2020) under Section 12A of the IBC, 2016, seeking to withdraw the company petition. The RP received Form FA from the Operational Creditor, indicating the settlement. The Committee of Creditors (CoC) approved the withdrawal application with 100% voting. The RP confirmed receipt of fees and expenses. The relevance of these facts lies in demonstrating the process of initiating CIRP, the subsequent settlement, and the legal steps taken to withdraw the insolvency
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Company Petition No.…
The court permitted the RP to withdraw the…
The application was filed by the Resolution Professional (RP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking permission to withdraw the Company Petition No. 1753/2019. The petition was admitted on 2019-10-16 based on a settlement between the parties.
M/s. Simba Logistics Pvt. Ltd. filed an application against M/s. Hindustan Online Trade Pvt. Ltd. under Section 9 of the IBC, 2016. The application was admitted on 2019-10-16, initiating CIRP. Subsequently, a settlement was reached between the parties. The Resolution Professional (RP) filed an application (IA/3579/2020) under Section 12A of the IBC, 2016, seeking to withdraw the company petition. The RP received Form FA from the Operational Creditor, indicating the settlement. The Committee of Creditors (CoC) approved the withdrawal application with 100% voting. The RP confirmed receipt of fees and expenses. The relevance of these facts lies in demonstrating the process of initiating CIRP, the subsequent settlement, and the legal steps taken to withdraw the insolvency
…Company Petition No.…
The court permitted the RP to withdraw the…