The case involves an application filed under Section 12-A of the IBC, seeking to withdraw the CIRP initiated against M/s. Imperial Fastners Pvt. Ltd. The COC, with 100% voting rights, approved the settlement. The CIRP process was initiated vide order dated July 29, 2020.
M/s. Property Solutions (India) Pvt. Ltd. initiated CIRP against M/s. Imperial Fastners Pvt. Ltd. under Section 9 of the IBC. The CIRP process was initiated on July 29, 2020. Subsequently, a settlement was reached between the parties, and the COC, with 100% voting rights, approved the settlement. An application was filed under Section 12-A of the IBC to withdraw the CIRP. The court considered this application, noting that all requirements were fulfilled. The key fact is the COC's approval of the settlement, leading to the application for withdrawal of the CIRP.
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CIRP process initiated…
Order delivered on…
The case involves an application filed under Section 12-A of the IBC, seeking to withdraw the CIRP initiated against M/s. Imperial Fastners Pvt. Ltd. The COC, with 100% voting rights, approved the settlement. The CIRP process was initiated vide order dated July 29, 2020.
M/s. Property Solutions (India) Pvt. Ltd. initiated CIRP against M/s. Imperial Fastners Pvt. Ltd. under Section 9 of the IBC. The CIRP process was initiated on July 29, 2020. Subsequently, a settlement was reached between the parties, and the COC, with 100% voting rights, approved the settlement. An application was filed under Section 12-A of the IBC to withdraw the CIRP. The court considered this application, noting that all requirements were fulfilled. The key fact is the COC's approval of the settlement, leading to the application for withdrawal of the CIRP.
CIRP process initiated…
Order delivered on…