The case involves an application for withdrawal of a Corporate Insolvency Resolution Process (CIRP) initiated against PVK Engineers Private Limited. The CIRP was initiated based on an application filed by the Financial Creditor, Abhirama Steels Limited, which was admitted by the Adjudicating Authority on 2020-09-21. Subsequently, the Corporate Debtor settled its dues with the Financial Creditor, leading to the Financial Creditor submitting Form FA and issuing a Demand Draft for CIRP costs. The Interim Resolution Professional (IRP) then filed an application for withdrawal of the CIRP.
Abhirama Steels Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against PVK Engineers Private Limited, the Corporate Debtor. The Adjudicating Authority admitted the application on 2020-09-21 and appointed Mr. Sri Vamsi Kambhammettu as the Interim Resolution Professional (IRP). Subsequently, the Corporate Debtor settled its dues with the Financial Creditor. The Financial Creditor then submitted Form FA and issued a Demand Draft for ₹50,000 towards CIRP costs to the IRP. The IRP filed an application (IA No. 862 of 2020) seeking permission to withdraw the CIRP. The application was filed in compliance with Section 12A of the IB Code and Regulation 30A of the IBBI Regulations. The
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CP (IB) No.672/7/HDB/201…
Adjudicating Authority passed an order…
The case involves an application for withdrawal of a Corporate Insolvency Resolution Process (CIRP) initiated against PVK Engineers Private Limited. The CIRP was initiated based on an application filed by the Financial Creditor, Abhirama Steels Limited, which was admitted by the Adjudicating Authority on 2020-09-21. Subsequently, the Corporate Debtor settled its dues with the Financial Creditor, leading to the Financial Creditor submitting Form FA and issuing a Demand Draft for CIRP costs. The Interim Resolution Professional (IRP) then filed an application for withdrawal of the CIRP.
Abhirama Steels Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against PVK Engineers Private Limited, the Corporate Debtor. The Adjudicating Authority admitted the application on 2020-09-21 and appointed Mr. Sri Vamsi Kambhammettu as the Interim Resolution Professional (IRP). Subsequently, the Corporate Debtor settled its dues with the Financial Creditor. The Financial Creditor then submitted Form FA and issued a Demand Draft for ₹50,000 towards CIRP costs to the IRP. The IRP filed an application (IA No. 862 of 2020) seeking permission to withdraw the CIRP. The application was filed in compliance with Section 12A of the IB Code and Regulation 30A of the IBBI Regulations. The
…CP (IB) No.672/7/HDB/201…
Adjudicating Authority passed an order…