The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Naresh Kr. & Co. Pvt. Ltd. The Operational Creditor filed CA(IB) No. 1524/KB/2019 for withdrawal of the CP, as the matter was settled amicably between the Operational Creditor and the Corporate Debtor. A previous order dated 2019-10-25 directed the Operational Creditor to deposit Rs. 2,00,000 in an Escrow Account for preliminary expenses, which was complied with.
Naresh Kr. & Co. Pvt. Ltd. faced a CIRP under Section 9 of the IBC, initiated by an Operational Creditor. The Operational Creditor filed CA(IB) No. 1524/KB/2019 to withdraw the CP, stating that the matter had been settled amicably with the Corporate Debtor. A previous order required the Operational Creditor to deposit Rs. 2,00,000 in an Escrow Account for preliminary expenses, which was complied with. No claims were received following a public announcement. The IRP's fees and costs were already paid. The Vakalatnama on behalf of the IRP was filed and recorded.
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Hearing held on…
Order dated October 25, 2019, directing the…
The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Naresh Kr. & Co. Pvt. Ltd. The Operational Creditor filed CA(IB) No. 1524/KB/2019 for withdrawal of the CP, as the matter was settled amicably between the Operational Creditor and the Corporate Debtor. A previous order dated 2019-10-25 directed the Operational Creditor to deposit Rs. 2,00,000 in an Escrow Account for preliminary expenses, which was complied with.
Naresh Kr. & Co. Pvt. Ltd. faced a CIRP under Section 9 of the IBC, initiated by an Operational Creditor. The Operational Creditor filed CA(IB) No. 1524/KB/2019 to withdraw the CP, stating that the matter had been settled amicably with the Corporate Debtor. A previous order required the Operational Creditor to deposit Rs. 2,00,000 in an Escrow Account for preliminary expenses, which was complied with. No claims were received following a public announcement. The IRP's fees and costs were already paid. The Vakalatnama on behalf of the IRP was filed and recorded.
Hearing held on…
Order dated October 25, 2019, directing the…