The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Idemitsu Lube India Pvt. Ltd. against Omsai Auto World Pvt. Ltd., designated as the Corporate Debtor. The petition was initially admitted, and Corporate Insolvency Resolution Process (CIRP) was initiated. Subsequently, the petitioner sought to withdraw the application.
Idemitsu Lube India Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Omsai Auto World Pvt. Ltd. (Corporate Debtor). The petition was admitted on January 2, 2018, and CIRP was initiated with Mr. Sandeep Goel appointed as the Interim Resolution Professional. The operational debt was ₹1,36,154. Subsequently, the Operational Creditor sought to withdraw the application. The Committee of Creditors approved the withdrawal with 100% voting in a meeting held on August 29, 2018. The Resolution Professional affirmed that the CIRP costs had been paid. The Operational Creditor submitted Form FA, indicating their consent for withdrawal. The NCLT considered these factors and allowed the withdrawal of the CIRP
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The petition filed by Idemitsu Lube India Pvt.…
Form FA was dated 10.07.2018 wherein it was…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Idemitsu Lube India Pvt. Ltd. against Omsai Auto World Pvt. Ltd., designated as the Corporate Debtor. The petition was initially admitted, and Corporate Insolvency Resolution Process (CIRP) was initiated. Subsequently, the petitioner sought to withdraw the application.
Idemitsu Lube India Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Omsai Auto World Pvt. Ltd. (Corporate Debtor). The petition was admitted on January 2, 2018, and CIRP was initiated with Mr. Sandeep Goel appointed as the Interim Resolution Professional. The operational debt was ₹1,36,154. Subsequently, the Operational Creditor sought to withdraw the application. The Committee of Creditors approved the withdrawal with 100% voting in a meeting held on August 29, 2018. The Resolution Professional affirmed that the CIRP costs had been paid. The Operational Creditor submitted Form FA, indicating their consent for withdrawal. The NCLT considered these factors and allowed the withdrawal of the CIRP
…The petition filed by Idemitsu Lube India Pvt.…
Form FA was dated 10.07.2018 wherein it was…