The case involves an application for withdrawal of a corporate insolvency resolution process (CIRP) petition filed by State Bank of India against Om Biomedic Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The financial creditor sought to withdraw the petition under Rule 11 of the NCLT Rules, 2016.
State Bank of India, the financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Om Biomedic Pvt. Ltd., the corporate debtor. Subsequently, the financial creditor filed an application (IA No.203/2021) seeking withdrawal of the corresponding petition under Rule 11 of the NCLT Rules, 2016. The court heard the submissions and perused the application. The relevance of these facts lies in the financial creditor's decision to withdraw the insolvency petition, which the court ultimately allowed, leading to the dismissal of the CIRP.
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CP (IB) No.349/Chd/Hry/2…
IA No.203/2021 filed by…
The case involves an application for withdrawal of a corporate insolvency resolution process (CIRP) petition filed by State Bank of India against Om Biomedic Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The financial creditor sought to withdraw the petition under Rule 11 of the NCLT Rules, 2016.
State Bank of India, the financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Om Biomedic Pvt. Ltd., the corporate debtor. Subsequently, the financial creditor filed an application (IA No.203/2021) seeking withdrawal of the corresponding petition under Rule 11 of the NCLT Rules, 2016. The court heard the submissions and perused the application. The relevance of these facts lies in the financial creditor's decision to withdraw the insolvency petition, which the court ultimately allowed, leading to the dismissal of the CIRP.
CP (IB) No.349/Chd/Hry/2…
IA No.203/2021 filed by…