The case involves a joint application filed by the Operational Creditor (Shree Agencies) and the Corporate Debtor (Kataria Packaging Pvt. Ltd.) under Rule 11 of the NCLT, seeking withdrawal of the IB Petition (CP (IB) No. 132 of 2018) and recalling the Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority had previously admitted the IB Petition on 06.02.2019 and appointed Mr. Arvind Gaudana as the Interim Resolution Professional (IRP). The IRP had not yet made a public announcement for the initiation of CIRP.
Shree Agencies, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Kataria Packaging Pvt. Ltd. An IB Petition (CP (IB) No. 132 of 2018) was filed. The Adjudicating Authority admitted the petition on 06.02.2019 and appointed Mr. Arvind Gaudana as the Interim Resolution Professional (IRP). Subsequently, the Respondent-Corporate Debtor approached the Applicant-Operational Creditor to settle the matter. On 27.02.2019, the corporate debtor deposited Rs. 10,43,716/- as part payment, and on 28.02.2019, the operational creditor received the balance amount of Rs. 9,59,042/-, totaling Rs. 20,02,758/- as full and final settlement. The IRP had taken symbolic possession of the Corporate Debtor's registered office/factory unit on 28.02.2019.
…Sign in to view the parties.
The Adjudicating Authority admitted the IB…
The order admitting the…
The case involves a joint application filed by the Operational Creditor (Shree Agencies) and the Corporate Debtor (Kataria Packaging Pvt. Ltd.) under Rule 11 of the NCLT, seeking withdrawal of the IB Petition (CP (IB) No. 132 of 2018) and recalling the Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority had previously admitted the IB Petition on 06.02.2019 and appointed Mr. Arvind Gaudana as the Interim Resolution Professional (IRP). The IRP had not yet made a public announcement for the initiation of CIRP.
Shree Agencies, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Kataria Packaging Pvt. Ltd. An IB Petition (CP (IB) No. 132 of 2018) was filed. The Adjudicating Authority admitted the petition on 06.02.2019 and appointed Mr. Arvind Gaudana as the Interim Resolution Professional (IRP). Subsequently, the Respondent-Corporate Debtor approached the Applicant-Operational Creditor to settle the matter. On 27.02.2019, the corporate debtor deposited Rs. 10,43,716/- as part payment, and on 28.02.2019, the operational creditor received the balance amount of Rs. 9,59,042/-, totaling Rs. 20,02,758/- as full and final settlement. The IRP had taken symbolic possession of the Corporate Debtor's registered office/factory unit on 28.02.2019.
…The Adjudicating Authority admitted the IB…
The order admitting the…