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 under Section 12A in a meeting held on February 25, 2020.
Sea Board Special Crops India Pvt. Ltd. is involved in a case with Ravi Commodities Pvt. Ltd. The Interim Resolution Professional (IRP) filed an application under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking approval for the Committee of Creditors' (CoC) decision to withdraw the application. This withdrawal is 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 under Section 12A in a meeting held on February 25, 2020. The IRP submitted that Rs. 1,57,300 is due and payable, inclusive of fees and costs. An amount of Rs. 5,00,000 has already been deposited in an ESCROW account with SBI. The court approved the application and directed the registry to
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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 under Section 12A in a meeting held on February 25, 2020.
Sea Board Special Crops India Pvt. Ltd. is involved in a case with Ravi Commodities Pvt. Ltd. The Interim Resolution Professional (IRP) filed an application under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking approval for the Committee of Creditors' (CoC) decision to withdraw the application. This withdrawal is 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 under Section 12A in a meeting held on February 25, 2020. The IRP submitted that Rs. 1,57,300 is due and payable, inclusive of fees and costs. An amount of Rs. 5,00,000 has already been deposited in an ESCROW account with SBI. The court approved the application and directed the registry to
…The Committee of Creditors (CoC) unanimously…
Hearing on the…