The case involves an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against Kairali Shipping Agencies Private Limited. The CIRP was admitted on 2018-12-17 based on a settlement between BSL Freight Solutions Private Limited (the applicant, now known as Transworld Integrated Logistek Pvt Ltd) and Kairali Shipping Agencies Private Limited. The application for withdrawal is based on a settlement dated 2019-03-12 between the parties, where Kairali Shipping Agencies agreed to pay arrears of Rs. 10,60,667/- to Transworld Integrated Logistek.
BSL Freight Solutions Private Limited (now Transworld Integrated Logistek Pvt Ltd) initiated Corporate Insolvency Resolution Process (CIRP) against Kairali Shipping Agencies Private Limited. The CIRP was admitted on 2018-12-17. Subsequently, a settlement was reached between the parties on 2019-03-12, where Kairali Shipping Agencies agreed to pay Rs. 10,60,667/- to Transworld Integrated Logistek. The Committee of Creditors (CoC) approved the settlement and CIRP costs with a 100% vote. The Operational Creditor remitted Rs. 2 lakhs as per the Tribunal's order. The suspended director of Kairali Shipping Agencies submitted a cheque dated 2019-03-25 for Rs. 2,12,282/- towards the balance CIRP cost. The Resolution Professional then filed an application for withdrawal of the
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Corporate Insolvency…
Settlement dated…
The case involves an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against Kairali Shipping Agencies Private Limited. The CIRP was admitted on 2018-12-17 based on a settlement between BSL Freight Solutions Private Limited (the applicant, now known as Transworld Integrated Logistek Pvt Ltd) and Kairali Shipping Agencies Private Limited. The application for withdrawal is based on a settlement dated 2019-03-12 between the parties, where Kairali Shipping Agencies agreed to pay arrears of Rs. 10,60,667/- to Transworld Integrated Logistek.
BSL Freight Solutions Private Limited (now Transworld Integrated Logistek Pvt Ltd) initiated Corporate Insolvency Resolution Process (CIRP) against Kairali Shipping Agencies Private Limited. The CIRP was admitted on 2018-12-17. Subsequently, a settlement was reached between the parties on 2019-03-12, where Kairali Shipping Agencies agreed to pay Rs. 10,60,667/- to Transworld Integrated Logistek. The Committee of Creditors (CoC) approved the settlement and CIRP costs with a 100% vote. The Operational Creditor remitted Rs. 2 lakhs as per the Tribunal's order. The suspended director of Kairali Shipping Agencies submitted a cheque dated 2019-03-25 for Rs. 2,12,282/- towards the balance CIRP cost. The Resolution Professional then filed an application for withdrawal of the
…Corporate Insolvency…
Settlement dated…