The case involves an application for the withdrawal of a Company Petition filed under Section 12(A) of the Insolvency & Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) had been initiated against the Corporate Debtor on 08.01.2020. A settlement was reached between the Financial Creditor and the Corporate Debtor before the CIRP's initiation, but this was not communicated to the Tribunal, leading to the CIRP's commencement. The Interim Resolution Professional (IRP) was appointed and directed to file a status report.
Shriram City Union Finance Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Premier Distilleries Ltd under the Insolvency & Bankruptcy Code, 2016. The CIRP was initiated on 08.01.2020. Prior to the CIRP's initiation, a settlement was reached between Shriram City Union Finance Ltd and Premier Distilleries Ltd, but this settlement was not communicated to the NCLT. An application was filed to withdraw the company petition. The Interim Resolution Professional (IRP) was appointed and filed a status report indicating that no claims had been received from creditors and no Committee of Creditors (CoC) had been formed. The secured Financial Creditors failed to file their claim before the IRP. The applicant relied on the Supreme Court's decision in
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Corporate Insolvency…
IRP caused paper publication in 'Dinamani'…
The case involves an application for the withdrawal of a Company Petition filed under Section 12(A) of the Insolvency & Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) had been initiated against the Corporate Debtor on 08.01.2020. A settlement was reached between the Financial Creditor and the Corporate Debtor before the CIRP's initiation, but this was not communicated to the Tribunal, leading to the CIRP's commencement. The Interim Resolution Professional (IRP) was appointed and directed to file a status report.
Shriram City Union Finance Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Premier Distilleries Ltd under the Insolvency & Bankruptcy Code, 2016. The CIRP was initiated on 08.01.2020. Prior to the CIRP's initiation, a settlement was reached between Shriram City Union Finance Ltd and Premier Distilleries Ltd, but this settlement was not communicated to the NCLT. An application was filed to withdraw the company petition. The Interim Resolution Professional (IRP) was appointed and filed a status report indicating that no claims had been received from creditors and no Committee of Creditors (CoC) had been formed. The secured Financial Creditors failed to file their claim before the IRP. The applicant relied on the Supreme Court's decision in
…Corporate Insolvency…
IRP caused paper publication in 'Dinamani'…