The case involves an application by State Bank of India (SBI) as the lead member of the Committee of Creditors (CoC). The application was filed in relation to a Corporate Insolvency Resolution Process (CIRP).
State Bank of India, leading a CoC, filed an application. A Withdrawal Memo was filed after a Demand Draft of ₹35 Lakhs was received from the Promoter-Director of the Respondent Company to cover CIRP costs. The Supreme Court had previously issued an order on 14.08.2018 in State Bank of India Vs. V.Ramakrishnan & ANR (Civil Appeal No: 3595 of 2018). The application was subsequently dismissed as withdrawn. The receipt of funds for CIRP costs appears to be the primary reason for the withdrawal.
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The Supreme Court passed an order in the matter…
Hearing held at Chennai…
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The case involves an application by State Bank of India (SBI) as the lead member of the Committee of Creditors (CoC). The application was filed in relation to a Corporate Insolvency Resolution Process (CIRP).
State Bank of India, leading a CoC, filed an application. A Withdrawal Memo was filed after a Demand Draft of ₹35 Lakhs was received from the Promoter-Director of the Respondent Company to cover CIRP costs. The Supreme Court had previously issued an order on 14.08.2018 in State Bank of India Vs. V.Ramakrishnan & ANR (Civil Appeal No: 3595 of 2018). The application was subsequently dismissed as withdrawn. The receipt of funds for CIRP costs appears to be the primary reason for the withdrawal.
The Supreme Court passed an order in the matter…
Hearing held at Chennai…
Sign in to view related legal provisions.