The case involves an application (IA No.153/2021) filed in connection with a Corporate Insolvency Resolution Process (CIRP) initiated against S.R. Industries Ltd. based on a petition (CP (IB) No.305/Chd/Pb/2019) filed by Sh. Jaspal Singh, Proprietor of M/s Creative Arts, an Operational Creditor. The CIRP was admitted on 05.03.2021. The application seeks withdrawal of the CIRP after a settlement between the operational creditor and the corporate debtor.
Sh. Jaspal Singh, Proprietor of M/s Creative Arts, filed CP (IB) No.305/Chd/Pb/2019 against S.R. Industries Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of CIRP. The CP was admitted on 05.03.2021, and a moratorium was declared. Mr. Tara Chand Meenia was appointed as Interim Resolution Professional. Subsequently, Sh. Jaspal Singh, along with Mr. Munish Mahajan (Managing Director, Promoter & Shareholder of S.R. Industries Ltd.), filed IA No.153/2021 seeking withdrawal of the CIRP, stating that a settlement had been reached between the parties. The Interim Resolution Professional had not yet constituted the CoC. The IRP's fees and expenses amounted to ₹2,41,000/-, which Mr. Munish Mahajan agreed to pay. The relevance of these
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CP (IB) No.305/Chd/Pb/20…
CP (IB) No.305/Chd/Pb/2019 admitted,…
The case involves an application (IA No.153/2021) filed in connection with a Corporate Insolvency Resolution Process (CIRP) initiated against S.R. Industries Ltd. based on a petition (CP (IB) No.305/Chd/Pb/2019) filed by Sh. Jaspal Singh, Proprietor of M/s Creative Arts, an Operational Creditor. The CIRP was admitted on 05.03.2021. The application seeks withdrawal of the CIRP after a settlement between the operational creditor and the corporate debtor.
Sh. Jaspal Singh, Proprietor of M/s Creative Arts, filed CP (IB) No.305/Chd/Pb/2019 against S.R. Industries Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of CIRP. The CP was admitted on 05.03.2021, and a moratorium was declared. Mr. Tara Chand Meenia was appointed as Interim Resolution Professional. Subsequently, Sh. Jaspal Singh, along with Mr. Munish Mahajan (Managing Director, Promoter & Shareholder of S.R. Industries Ltd.), filed IA No.153/2021 seeking withdrawal of the CIRP, stating that a settlement had been reached between the parties. The Interim Resolution Professional had not yet constituted the CoC. The IRP's fees and expenses amounted to ₹2,41,000/-, which Mr. Munish Mahajan agreed to pay. The relevance of these
…CP (IB) No.305/Chd/Pb/20…
CP (IB) No.305/Chd/Pb/2019 admitted,…