The case involves an application to withdraw a Company Petition under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30 A (b) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Initially, C.P.(IB)No.258/BB/2018 was filed by Rubfila International Limited under Section 7 of the IBC, which was admitted by the Adjudicating Authority on 26.09.2019, initiating the Corporate Insolvency Resolution Process (CIRP) for Raveena Hotels Private Limited. An Interim Resolution Professional (IRP) was appointed, and a moratorium was imposed. Subsequently, the IRP was confirmed as the Resolution Professional (RP) on 03.01.2020. Public announcements were made to invite claims from creditors. The RP published an
…Rubfila International Limited initiated CIRP against Raveena Hotels Private Limited by filing C.P.(IB)No.258/BB/2018 under Section 7 of IBC. The petition was admitted on 26.09.2019. An IRP was appointed, later confirmed as RP on 03.01.2020. Public announcements were made to invite claims. The RP published an EOI. The seventh CoC meeting considered the withdrawal Form FA submitted by the Financial Creditor on 07.11.2020. PNB Housing Finance Pvt. Ltd. held 83% voting rights in CoC. The Financial Creditor informed that their dues were settled and consented to the Corporate Debtor filing Form FA, subject to CoC approval. The CoC unanimously resolved to accept the withdrawal application. The Financial Creditor settled all the CIRP costs on 16.11.2020, and the Corporate
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C.P.(IB)No.258/BB/2018…
The Adjudicating Authority admitted the…
The case involves an application to withdraw a Company Petition under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30 A (b) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Initially, C.P.(IB)No.258/BB/2018 was filed by Rubfila International Limited under Section 7 of the IBC, which was admitted by the Adjudicating Authority on 26.09.2019, initiating the Corporate Insolvency Resolution Process (CIRP) for Raveena Hotels Private Limited. An Interim Resolution Professional (IRP) was appointed, and a moratorium was imposed. Subsequently, the IRP was confirmed as the Resolution Professional (RP) on 03.01.2020. Public announcements were made to invite claims from creditors. The RP published an
…Rubfila International Limited initiated CIRP against Raveena Hotels Private Limited by filing C.P.(IB)No.258/BB/2018 under Section 7 of IBC. The petition was admitted on 26.09.2019. An IRP was appointed, later confirmed as RP on 03.01.2020. Public announcements were made to invite claims. The RP published an EOI. The seventh CoC meeting considered the withdrawal Form FA submitted by the Financial Creditor on 07.11.2020. PNB Housing Finance Pvt. Ltd. held 83% voting rights in CoC. The Financial Creditor informed that their dues were settled and consented to the Corporate Debtor filing Form FA, subject to CoC approval. The CoC unanimously resolved to accept the withdrawal application. The Financial Creditor settled all the CIRP costs on 16.11.2020, and the Corporate
…C.P.(IB)No.258/BB/2018…
The Adjudicating Authority admitted the…