The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Section 60(5) of the same code and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. An Interim Resolution Professional (IRP) was appointed for the Corporate Insolvency Resolution Process (CIRP) of M/s. Kiran Global Chems Limited. The suspended Board of Directors settled outstanding dues with the Operational Creditor, leading to a proposal to withdraw the application.
An application was filed under Section 12A of the Insolvency and Bankruptcy Code, 2016, for the Corporate Insolvency Resolution Process (CIRP) of M/s. Kiran Global Chems Limited. Thauvai Ramachandran Ravichandran was appointed as the Interim Resolution Professional (IRP). The suspended Board of Directors settled the outstanding dues to the Operational Creditor. The IRP filed an application to withdraw the CIRP due to the settlement. The Operational Creditor submitted Form FA under Regulation 30A of IBBI Regulations, 2016. The IRP received Form FA from the Operational Creditor on 10.03.2021. The IRP also received a cheque of Rs. 13,36,590/- towards estimated expenses. The application to withdraw was filed within 3 days of receiving the application from the Operational
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Thauvai Ramachandran Ravichandran was…
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The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Section 60(5) of the same code and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. An Interim Resolution Professional (IRP) was appointed for the Corporate Insolvency Resolution Process (CIRP) of M/s. Kiran Global Chems Limited. The suspended Board of Directors settled outstanding dues with the Operational Creditor, leading to a proposal to withdraw the application.
An application was filed under Section 12A of the Insolvency and Bankruptcy Code, 2016, for the Corporate Insolvency Resolution Process (CIRP) of M/s. Kiran Global Chems Limited. Thauvai Ramachandran Ravichandran was appointed as the Interim Resolution Professional (IRP). The suspended Board of Directors settled the outstanding dues to the Operational Creditor. The IRP filed an application to withdraw the CIRP due to the settlement. The Operational Creditor submitted Form FA under Regulation 30A of IBBI Regulations, 2016. The IRP received Form FA from the Operational Creditor on 10.03.2021. The IRP also received a cheque of Rs. 13,36,590/- towards estimated expenses. The application to withdraw was filed within 3 days of receiving the application from the Operational
…Thauvai Ramachandran Ravichandran was…
Paper publication made…