The case involves an application (IA-2621/ND/2020) filed in IB-1685/ND/2019 concerning M/s. Proview Realtech Pvt. Ltd., the Corporate Debtor. The Interim Resolution Professional (IRP) and counsel are present. The application is filed under Regulation 30-A of the Corporate Insolvency Resolution Process Regulations. The Committee of Creditors (CoC) has not been constituted, and the matter has been settled. The applicant seeks withdrawal of the Corporate Insolvency Resolution (CIR) Process to allow the Corporate Debtor to function as a normal entity.
Mr. Chhama Jain, the Operational Creditor, initiated a CIR process against M/s. Proview Realtech Pvt. Ltd., the Corporate Debtor, under Section 9 of the IBC code 2016. An application (IA-2621/ND/2020) was filed in IB-1685/ND/2019. The IRP was present with counsel. The application was filed under Regulation 30-A of the Regulations, stating that the CoC had not been constituted and the matter had been settled. The applicant sought withdrawal of the CIR process to allow the Corporate Debtor to function as a normal entity. The court heard and perused the application filed by the IRP. The order dated 14.2.2020, initiating the CIR process, was recalled. The Corporate Debtor was directed to pay Rs.1,30,000/- to the Resolution Professional within a week. The counsel for the
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Order dated 14.2.2020…
Order delivered on…
The case involves an application (IA-2621/ND/2020) filed in IB-1685/ND/2019 concerning M/s. Proview Realtech Pvt. Ltd., the Corporate Debtor. The Interim Resolution Professional (IRP) and counsel are present. The application is filed under Regulation 30-A of the Corporate Insolvency Resolution Process Regulations. The Committee of Creditors (CoC) has not been constituted, and the matter has been settled. The applicant seeks withdrawal of the Corporate Insolvency Resolution (CIR) Process to allow the Corporate Debtor to function as a normal entity.
Mr. Chhama Jain, the Operational Creditor, initiated a CIR process against M/s. Proview Realtech Pvt. Ltd., the Corporate Debtor, under Section 9 of the IBC code 2016. An application (IA-2621/ND/2020) was filed in IB-1685/ND/2019. The IRP was present with counsel. The application was filed under Regulation 30-A of the Regulations, stating that the CoC had not been constituted and the matter had been settled. The applicant sought withdrawal of the CIR process to allow the Corporate Debtor to function as a normal entity. The court heard and perused the application filed by the IRP. The order dated 14.2.2020, initiating the CIR process, was recalled. The Corporate Debtor was directed to pay Rs.1,30,000/- to the Resolution Professional within a week. The counsel for the
…Order dated 14.2.2020…
Order delivered on…