The case involves a Company Petition (CP(IB) No. 463/9/HDB/2018) filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, which was admitted by the National Company Law Tribunal (NCLT), Hyderabad Bench on 2019-11-28, initiating the Corporate Insolvency Resolution Process (CIRP) against Mark Infrastructure Pvt Ltd. Subsequently, the parties reached a settlement, leading to the filing of IA No. 1162/2019 under Section 12A of the IBC, seeking withdrawal of the petition. The Interim Resolution Professional (IRP) reported the settlement to the Tribunal and requested the withdrawal.
On 2019-11-28, the NCLT admitted a petition under Section 9 of the IBC, initiating CIRP against Mark Infrastructure Pvt Ltd. Subsequently, the operational creditor and the corporate debtor, Mark Infrastructure Pvt Ltd, reached a settlement on 2019-12-16. The operational creditor then filed Form FA under Section 12A of the IBC, seeking withdrawal of the petition. The IRP also filed an application (IA No. 1162/2019) for withdrawal, stating that the parties had settled and that the corporate debtor had made payments towards IRP expenses. The IRP also submitted various documents, including the settlement deed, Form FA, and a no-objection certificate from PNB. The Committee of Creditors had not yet been constituted. The key fact is the settlement between the parties after
…Sign in to view the parties.
Tribunal admitted the petition filed under…
Parties agreed to…
The case involves a Company Petition (CP(IB) No. 463/9/HDB/2018) filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, which was admitted by the National Company Law Tribunal (NCLT), Hyderabad Bench on 2019-11-28, initiating the Corporate Insolvency Resolution Process (CIRP) against Mark Infrastructure Pvt Ltd. Subsequently, the parties reached a settlement, leading to the filing of IA No. 1162/2019 under Section 12A of the IBC, seeking withdrawal of the petition. The Interim Resolution Professional (IRP) reported the settlement to the Tribunal and requested the withdrawal.
On 2019-11-28, the NCLT admitted a petition under Section 9 of the IBC, initiating CIRP against Mark Infrastructure Pvt Ltd. Subsequently, the operational creditor and the corporate debtor, Mark Infrastructure Pvt Ltd, reached a settlement on 2019-12-16. The operational creditor then filed Form FA under Section 12A of the IBC, seeking withdrawal of the petition. The IRP also filed an application (IA No. 1162/2019) for withdrawal, stating that the parties had settled and that the corporate debtor had made payments towards IRP expenses. The IRP also submitted various documents, including the settlement deed, Form FA, and a no-objection certificate from PNB. The Committee of Creditors had not yet been constituted. The key fact is the settlement between the parties after
…Tribunal admitted the petition filed under…
Parties agreed to…