The case involves Techmech Realtors Pvt. Ltd. versus Omega Transmission Pvt. Ltd. The financial creditor and corporate debtor entered into a settlement after the admission of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor. An application (CA(IB) 1121/KB/2019) was filed by the Resolution Professional (RP) for withdrawal of the main CP.
Techmech Realtors Pvt. Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against Omega Transmission Pvt. Ltd. under Section 7 of the IBC. After the admission of the CIRP, the financial creditor and the corporate debtor reached a settlement. Consequently, the Resolution Professional (RP) filed an application (CA(IB) 1121/KB/2019) for the withdrawal of the main CP. The court noted that the Committee of Creditors (CoC) had not yet been formed. The court allowed the withdrawal of the CP and disposed of the CA.
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Hearing held on…
Financial creditor and…
The case involves Techmech Realtors Pvt. Ltd. versus Omega Transmission Pvt. Ltd. The financial creditor and corporate debtor entered into a settlement after the admission of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor. An application (CA(IB) 1121/KB/2019) was filed by the Resolution Professional (RP) for withdrawal of the main CP.
Techmech Realtors Pvt. Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against Omega Transmission Pvt. Ltd. under Section 7 of the IBC. After the admission of the CIRP, the financial creditor and the corporate debtor reached a settlement. Consequently, the Resolution Professional (RP) filed an application (CA(IB) 1121/KB/2019) for the withdrawal of the main CP. The court noted that the Committee of Creditors (CoC) had not yet been formed. The court allowed the withdrawal of the CP and disposed of the CA.
Hearing held on…
Financial creditor and…