The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) by the Interim Resolution Professional (IRP) seeking approval for the Committee of Creditors' (CoC) decision to withdraw the application due to a settlement of the claim between the Operational Creditor and the Corporate Debtor. The CoC unanimously voted in favor of filing the application for withdrawal in a meeting held on February 25, 2020.
Sea Board Special Crops India Pvt. Ltd. is involved in a case against Ravi Commodities Pvt. Ltd. The Interim Resolution Professional (IRP) filed an application (IA(IB) No. 409/KB/2020) under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking approval to withdraw the insolvency application. This request stems from a settlement reached between the Operational Creditor and the Corporate Debtor. The Committee of Creditors (CoC) unanimously voted in favor of the withdrawal application during a meeting on February 25, 2020. The IRP claims Rs. 1,57,300 is due and payable, including fees and costs. The Operational Creditor does not object to this claim. Rs. 5,00,000 has already been deposited in an escrow account with SBI. The balance amount after paying the IRP
…Sign in to view the parties.
The Committee of Creditors (CoC) unanimously…
Hearing on the…
The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) by the Interim Resolution Professional (IRP) seeking approval for the Committee of Creditors' (CoC) decision to withdraw the application due to a settlement of the claim between the Operational Creditor and the Corporate Debtor. The CoC unanimously voted in favor of filing the application for withdrawal in a meeting held on February 25, 2020.
Sea Board Special Crops India Pvt. Ltd. is involved in a case against Ravi Commodities Pvt. Ltd. The Interim Resolution Professional (IRP) filed an application (IA(IB) No. 409/KB/2020) under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking approval to withdraw the insolvency application. This request stems from a settlement reached between the Operational Creditor and the Corporate Debtor. The Committee of Creditors (CoC) unanimously voted in favor of the withdrawal application during a meeting on February 25, 2020. The IRP claims Rs. 1,57,300 is due and payable, including fees and costs. The Operational Creditor does not object to this claim. Rs. 5,00,000 has already been deposited in an escrow account with SBI. The balance amount after paying the IRP
…The Committee of Creditors (CoC) unanimously…
Hearing on the…