The case involves Alyanaa Ventures (P) Ltd as the petitioner and Inox FMCG (P) Ltd as the respondent. The petition was filed under Section 9 of the IBC, 2016. The parties reached a settlement after the initiation of the Corporate Insolvency Resolution Process (CIRP). The settlement led them to seek withdrawal of the petition.
Alyanaa Ventures (P) Ltd filed a petition against Inox FMCG (P) Ltd under Section 9 of the IBC, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). Subsequently, the parties reached a settlement and sought to withdraw the petition. The IRP appointed by the Tribunal confirmed that paper publication had been made, but no claims were received, and the COC was not constituted. The Tribunal considered the settlement, the IRP's representation, and the Supreme Court's judgment in M/s. Swiss Ribbon (P) Limited vs. Union of India & Ors. The Corporate Debtor undertook to pay the IRP's fees and expenses.
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The order was d…
The case involves Alyanaa Ventures (P) Ltd as the petitioner and Inox FMCG (P) Ltd as the respondent. The petition was filed under Section 9 of the IBC, 2016. The parties reached a settlement after the initiation of the Corporate Insolvency Resolution Process (CIRP). The settlement led them to seek withdrawal of the petition.
Alyanaa Ventures (P) Ltd filed a petition against Inox FMCG (P) Ltd under Section 9 of the IBC, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). Subsequently, the parties reached a settlement and sought to withdraw the petition. The IRP appointed by the Tribunal confirmed that paper publication had been made, but no claims were received, and the COC was not constituted. The Tribunal considered the settlement, the IRP's representation, and the Supreme Court's judgment in M/s. Swiss Ribbon (P) Limited vs. Union of India & Ors. The Corporate Debtor undertook to pay the IRP's fees and expenses.
The order was d…