IA No.726/2021 was filed by the Applicant/Resolution Professional under Section 60(5), 12A of the I&B Code, 2016 read with Regulation 30 A(1)(A) of the CIRP Regulation, 2016 and also read with Rule 11 of NCLT Rules, 2016. The IRP filed the IA under Section 12 A for withdrawal of the main CP(IB)No.583/9/HDB/2019 on the ground that the claim is settled amicably between the parties.
Mark one Impex Pvt Ltd filed a CP(IB) 583/9/HDB/2019 against NVNR Power & Infra Pvt Ltd under Section 9 of IBC, 2016. IA No.726/2021 was filed by the IRP under Section 12 A for withdrawal of the main CP(IB)No.583/9/HDB/2019 on the ground that the claim is settled amicably between the parties. The court examined the books of accounts of the corporate debtor and found that the corporate debtor unit is a going concern and the same will be beneficial for the interest of the corporate debtor as well as other stake holders of the corporate debtor. The Moratorium under Section 14 stands vacated.
Sign in to view the parties.
Hearing held on…
IA No.726/2021 was filed by the Applicant/Resolution Professional under Section 60(5), 12A of the I&B Code, 2016 read with Regulation 30 A(1)(A) of the CIRP Regulation, 2016 and also read with Rule 11 of NCLT Rules, 2016. The IRP filed the IA under Section 12 A for withdrawal of the main CP(IB)No.583/9/HDB/2019 on the ground that the claim is settled amicably between the parties.
Mark one Impex Pvt Ltd filed a CP(IB) 583/9/HDB/2019 against NVNR Power & Infra Pvt Ltd under Section 9 of IBC, 2016. IA No.726/2021 was filed by the IRP under Section 12 A for withdrawal of the main CP(IB)No.583/9/HDB/2019 on the ground that the claim is settled amicably between the parties. The court examined the books of accounts of the corporate debtor and found that the corporate debtor unit is a going concern and the same will be beneficial for the interest of the corporate debtor as well as other stake holders of the corporate debtor. The Moratorium under Section 14 stands vacated.
Hearing held on…