The case involves an application (CA No. 62/2019) filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC) for the withdrawal of the Corporate Insolvency Resolution Process (CIRP). The CIRP against the Corporate Debtor was initiated on 08.01.2019. The first Committee of Creditors (COC) meeting was held on 15.02.2019, comprising only one member, the Operational Creditor. A proposal to consider another matter was placed in Form FA during the meeting.
Mr. Kamaljeet Bhatti, the Proprietor of Planet Mobi, filed an application as the Applicant. Realdream Digital Pvt. Ltd. is the Respondent. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 08.01.2019. The first Committee of Creditors (COC) meeting was held on 15.02.2019, and it consisted of only one member, the Operational Creditor. The IRP filed an application under Section 12A for withdrawal of the CIRP due to the untraceability of documents, records, and personnel from the Ex-Management, making it impossible for the Operational Creditor to proceed. The COC approved the withdrawal with 100% voting. The relevance of the facts is that the inability to trace the ex-management and the unanimous approval of the COC led to the
…Sign in to view the parties.
Order initiating CIRP…
The first Committee of Creditors (COC) meeting…
The case involves an application (CA No. 62/2019) filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC) for the withdrawal of the Corporate Insolvency Resolution Process (CIRP). The CIRP against the Corporate Debtor was initiated on 08.01.2019. The first Committee of Creditors (COC) meeting was held on 15.02.2019, comprising only one member, the Operational Creditor. A proposal to consider another matter was placed in Form FA during the meeting.
Mr. Kamaljeet Bhatti, the Proprietor of Planet Mobi, filed an application as the Applicant. Realdream Digital Pvt. Ltd. is the Respondent. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 08.01.2019. The first Committee of Creditors (COC) meeting was held on 15.02.2019, and it consisted of only one member, the Operational Creditor. The IRP filed an application under Section 12A for withdrawal of the CIRP due to the untraceability of documents, records, and personnel from the Ex-Management, making it impossible for the Operational Creditor to proceed. The COC approved the withdrawal with 100% voting. The relevance of the facts is that the inability to trace the ex-management and the unanimous approval of the COC led to the
…Order initiating CIRP…
The first Committee of Creditors (COC) meeting…