The case involves an application filed by Harmony Multimedia Private Limited, the Operational Creditor, under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of the IB Petition (CP (IB) No.224 of 2019) and recalling the Corporate Insolvency Resolution Process (CIRP) against Karington Club and Resort Limited, the Corporate Debtor. The CIRP was initiated vide the Court's order dated 10.07.2019, which admitted the IB petition and declared a moratorium.
Harmony Multimedia Private Limited, the Operational Creditor, filed an application under Section 12A of the Insolvency and Bankruptcy Code, 2016, to withdraw the IB Petition (CP (IB) No.224 of 2019) against Karington Club and Resort Limited, the Corporate Debtor. The Corporate Debtor proposed to settle the debt of Rs. 19,94,800/- by issuing post-dated cheques. The Corporate Debtor acknowledged the debt and undertook to honor the cheques. The amount claimed by the Applicant from the Corporate Debtor is Rs.20,30,843.75, including principal and interest. The settlement was reached before the constitution of the Committee of Creditors (CoC). The Interim Resolution Professional (IRP) had no objection to allowing the application. The application for settlement was filed on
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The case involves an application filed by Harmony Multimedia Private Limited, the Operational Creditor, under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking withdrawal of the IB Petition (CP (IB) No.224 of 2019) and recalling the Corporate Insolvency Resolution Process (CIRP) against Karington Club and Resort Limited, the Corporate Debtor. The CIRP was initiated vide the Court's order dated 10.07.2019, which admitted the IB petition and declared a moratorium.
Harmony Multimedia Private Limited, the Operational Creditor, filed an application under Section 12A of the Insolvency and Bankruptcy Code, 2016, to withdraw the IB Petition (CP (IB) No.224 of 2019) against Karington Club and Resort Limited, the Corporate Debtor. The Corporate Debtor proposed to settle the debt of Rs. 19,94,800/- by issuing post-dated cheques. The Corporate Debtor acknowledged the debt and undertook to honor the cheques. The amount claimed by the Applicant from the Corporate Debtor is Rs.20,30,843.75, including principal and interest. The settlement was reached before the constitution of the Committee of Creditors (CoC). The Interim Resolution Professional (IRP) had no objection to allowing the application. The application for settlement was filed on
…The Court admitted the…
The application for…