The case involves an application for withdrawal of a Corporate Insolvency Resolution Process (CIRP) initiated against Interspace Solutions Pvt. Ltd. The CIRP was initiated based on a petition filed by Next Step Engineering Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Interim Resolution Professional (IRP) filed an application for withdrawal under Section 12A of the IBC, supported by the Committee of Creditors (CoC).
Next Step Engineering Pvt. Ltd., an Operational Creditor, filed a petition under Section 9 of the IBC against Interspace Solutions Pvt. Ltd., the Corporate Debtor. The petition was admitted on 2019-06-24. Subsequently, the Corporate Debtor settled the outstanding dues. The Committee of Creditors (CoC), with 100% voting, resolved to withdraw the Company Petition. The Interim Resolution Professional (IRP) then filed an application for withdrawal under Section 12A of the IBC, supported by Form FA dated 2019-10-17, as required under Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate persons) Regulations, 2016. The application was filed in C.P. No. 3451/I&B/2018.
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Company P…
A Petition filed under Section 9 of the Code…
The case involves an application for withdrawal of a Corporate Insolvency Resolution Process (CIRP) initiated against Interspace Solutions Pvt. Ltd. The CIRP was initiated based on a petition filed by Next Step Engineering Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Interim Resolution Professional (IRP) filed an application for withdrawal under Section 12A of the IBC, supported by the Committee of Creditors (CoC).
Next Step Engineering Pvt. Ltd., an Operational Creditor, filed a petition under Section 9 of the IBC against Interspace Solutions Pvt. Ltd., the Corporate Debtor. The petition was admitted on 2019-06-24. Subsequently, the Corporate Debtor settled the outstanding dues. The Committee of Creditors (CoC), with 100% voting, resolved to withdraw the Company Petition. The Interim Resolution Professional (IRP) then filed an application for withdrawal under Section 12A of the IBC, supported by Form FA dated 2019-10-17, as required under Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate persons) Regulations, 2016. The application was filed in C.P. No. 3451/I&B/2018.
Company P…
A Petition filed under Section 9 of the Code…