J.M. Financial Asset Reconstruction Company Limited (JMFARC), the Financial Creditor, initiated a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Howrah Mills Company Limited, the Corporate Debtor, for Corporate Insolvency Resolution Process (CIRP). Subsequently, an agreement to assign financial assets was executed between JMFARC and Abhinandan Holdings on January 15, 2020. Following this assignment, JMFARC filed I.A. 123/KB/2020 to withdraw the Company Petition, with the understanding that it could be revived if Abhinandan Holdings Pvt. Ltd. defaulted.
…J.M. Financial Asset Reconstruction Company Limited (JMFARC), the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Howrah Mills Company Limited, the Corporate Debtor. This petition was filed due to an alleged default by Howrah Mills.
An agreement to assign the financial assets of Howrah Mills was executed on January 15, 2020, between JMFARC (Intending Assignor) and Abhinandan Holdings Private Limited (Intending Assignee). Following this agreement, JMFARC filed I.A. 123/KB/2020 to withdraw the Company Petition, with the condition that it could be revived if Abhinandan Holdings defaulted.
…Agreement to assign financial assets of…
Adjudicating Authority allowed withdrawal of…
J.M. Financial Asset Reconstruction Company Limited (JMFARC), the Financial Creditor, initiated a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Howrah Mills Company Limited, the Corporate Debtor, for Corporate Insolvency Resolution Process (CIRP). Subsequently, an agreement to assign financial assets was executed between JMFARC and Abhinandan Holdings on January 15, 2020. Following this assignment, JMFARC filed I.A. 123/KB/2020 to withdraw the Company Petition, with the understanding that it could be revived if Abhinandan Holdings Pvt. Ltd. defaulted.
…J.M. Financial Asset Reconstruction Company Limited (JMFARC), the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Howrah Mills Company Limited, the Corporate Debtor. This petition was filed due to an alleged default by Howrah Mills.
An agreement to assign the financial assets of Howrah Mills was executed on January 15, 2020, between JMFARC (Intending Assignor) and Abhinandan Holdings Private Limited (Intending Assignee). Following this agreement, JMFARC filed I.A. 123/KB/2020 to withdraw the Company Petition, with the condition that it could be revived if Abhinandan Holdings defaulted.
…Agreement to assign financial assets of…
Adjudicating Authority allowed withdrawal of…