The case involves an application (I.A-3410/2021) filed in relation to Company Petition No. 318/2020. The Applicant/IRP sought permission to withdraw the Company Petition based on a settlement arrived at between the parties, evidenced by Form-FA submitted by the Operational Creditor on August 4, 2021. The IRP's counsel stated that CIRP was initiated on July 23, 2021, but the Committee of Creditors (CoC) had not yet been constituted.
Mr. Danish Irfan, the Applicant/Petitioner, filed a Company Petition (No. 318/2020) against M/s Samiah International Builders Ltd., the Respondent, under Section 9 of the IBC Code, 2016. Subsequently, a settlement was reached between the parties, and the Operational Creditor submitted Form-FA on August 4, 2021. The Applicant/IRP then filed I.A-3410/2021 seeking permission to withdraw the Company Petition. The CIRP had been initiated on July 23, 2021, but the CoC had not yet been constituted. The IRP had received the Form-FA and a Demand Draft to reimburse expenses. The key fact is the settlement between the parties, leading to the withdrawal request.
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Corporate Insolvency…
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The case involves an application (I.A-3410/2021) filed in relation to Company Petition No. 318/2020. The Applicant/IRP sought permission to withdraw the Company Petition based on a settlement arrived at between the parties, evidenced by Form-FA submitted by the Operational Creditor on August 4, 2021. The IRP's counsel stated that CIRP was initiated on July 23, 2021, but the Committee of Creditors (CoC) had not yet been constituted.
Mr. Danish Irfan, the Applicant/Petitioner, filed a Company Petition (No. 318/2020) against M/s Samiah International Builders Ltd., the Respondent, under Section 9 of the IBC Code, 2016. Subsequently, a settlement was reached between the parties, and the Operational Creditor submitted Form-FA on August 4, 2021. The Applicant/IRP then filed I.A-3410/2021 seeking permission to withdraw the Company Petition. The CIRP had been initiated on July 23, 2021, but the CoC had not yet been constituted. The IRP had received the Form-FA and a Demand Draft to reimburse expenses. The key fact is the settlement between the parties, leading to the withdrawal request.
Corporate Insolvency…
Operational Creditor…