The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking permission to withdraw a Company Petition (CP(IB)No.419/9/HDB/2019). The petition was initially admitted under Section 9 of the IBC by the Operational Creditor, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. A moratorium was ordered. Subsequently, the parties reached a settlement, with the Corporate Debtor paying Rs. 4,00,900/- to the Operational Creditor for full and final settlement of the claim.
The Operational Creditor, Concept Public Relations India Ltd, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor, RDP Workstations Pvt Ltd. The National Company Law Tribunal (NCLT), Hyderabad Bench, admitted the petition on 2019-11-20, initiating the Corporate Insolvency Resolution Process (CIRP) and imposing a moratorium. An Interim Resolution Professional (IRP) was appointed. Subsequently, the parties settled the matter, with the Corporate Debtor paying Rs. 4,00,900/- to the Operational Creditor towards full and final settlement of the claim. The Operational Creditor had initially paid Rs. 1,00,000/- to the IRP to cover expenses. The IRP incurred additional expenses of Rs. 20,000/- for publication. The Corporate
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The Tribunal admitted the petition filed under…
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The case involves an application filed under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking permission to withdraw a Company Petition (CP(IB)No.419/9/HDB/2019). The petition was initially admitted under Section 9 of the IBC by the Operational Creditor, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. A moratorium was ordered. Subsequently, the parties reached a settlement, with the Corporate Debtor paying Rs. 4,00,900/- to the Operational Creditor for full and final settlement of the claim.
The Operational Creditor, Concept Public Relations India Ltd, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor, RDP Workstations Pvt Ltd. The National Company Law Tribunal (NCLT), Hyderabad Bench, admitted the petition on 2019-11-20, initiating the Corporate Insolvency Resolution Process (CIRP) and imposing a moratorium. An Interim Resolution Professional (IRP) was appointed. Subsequently, the parties settled the matter, with the Corporate Debtor paying Rs. 4,00,900/- to the Operational Creditor towards full and final settlement of the claim. The Operational Creditor had initially paid Rs. 1,00,000/- to the IRP to cover expenses. The IRP incurred additional expenses of Rs. 20,000/- for publication. The Corporate
…The Tribunal admitted the petition filed under…
Paper publication was…