The case involves an application (I.A. No. 576 of 2019) filed in C.P. (IB) No. 278/BB/2019 by Shri Srinivas Thatikonda, the Interim Resolution Professional (IRP), seeking to withdraw the Corporate Insolvency Resolution Process (CIRP) initiated against M/s. M.N.S. Printers Private Limited. The CIRP was originally initiated based on a petition filed by M/s. Manipal Media Network Limited, an Operational Creditor, under Section 9 of the IBC, 2016, due to a default of Rs. 28,54,801.38. The Adjudicating Authority admitted the case on 25.10.2019 and appointed Shri Srinivas Thatikonda as the IRP. Following the public announcement, both parties reached a settlement.
M/s. Manipal Media Network Limited, an Operational Creditor, filed C.P. (IB) No. 278/BB/2019 under Section 9 of the IBC, 2016, seeking to initiate CIRP against M/s. M.N.S. Printers Private Limited due to a default of Rs. 28,54,801.38 since 15.10.2018. The Adjudicating Authority admitted the case on 25.10.2019, initiating CIRP and appointing Shri Srinivas Thatikonda as the IRP. The IRP made a public announcement on 02.11.2019, calling upon creditors to submit their claims by 13.11.2019. Subsequently, both parties settled the matter. The Corporate Debtor handed over a Demand Draft of Rs. 35,00,000/- dated 02.11.2019 to the Operational Creditor, which the Operational Creditor acknowledged as full and final settlement. The Committee of Creditors had not yet been
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Date from which the…
Adjudicating Authority admitted the case and…
The case involves an application (I.A. No. 576 of 2019) filed in C.P. (IB) No. 278/BB/2019 by Shri Srinivas Thatikonda, the Interim Resolution Professional (IRP), seeking to withdraw the Corporate Insolvency Resolution Process (CIRP) initiated against M/s. M.N.S. Printers Private Limited. The CIRP was originally initiated based on a petition filed by M/s. Manipal Media Network Limited, an Operational Creditor, under Section 9 of the IBC, 2016, due to a default of Rs. 28,54,801.38. The Adjudicating Authority admitted the case on 25.10.2019 and appointed Shri Srinivas Thatikonda as the IRP. Following the public announcement, both parties reached a settlement.
M/s. Manipal Media Network Limited, an Operational Creditor, filed C.P. (IB) No. 278/BB/2019 under Section 9 of the IBC, 2016, seeking to initiate CIRP against M/s. M.N.S. Printers Private Limited due to a default of Rs. 28,54,801.38 since 15.10.2018. The Adjudicating Authority admitted the case on 25.10.2019, initiating CIRP and appointing Shri Srinivas Thatikonda as the IRP. The IRP made a public announcement on 02.11.2019, calling upon creditors to submit their claims by 13.11.2019. Subsequently, both parties settled the matter. The Corporate Debtor handed over a Demand Draft of Rs. 35,00,000/- dated 02.11.2019 to the Operational Creditor, which the Operational Creditor acknowledged as full and final settlement. The Committee of Creditors had not yet been
…Date from which the…
Adjudicating Authority admitted the case and…