The case involves an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) against Sanchesz Healthcare Private Ltd. The CIRP was initiated based on an application filed by Kerala State Industrial Development Corporation Ltd under Section 7 of the IBC, 2016. The Interim Resolution Professional (IRP) was appointed and a Committee of Creditors (CoC) was constituted. Subsequently, the CoC resolved to withdraw the CIRP proceedings with 100% voting and to make payment of the CIRP costs. The application for withdrawal was filed under Section 12A of the IBC, read with relevant regulations.
Kerala State Industrial Development Corporation Ltd initiated CIRP against Sanchesz Healthcare Pvt Ltd under Section 7 of IBC, 2016. The application was admitted on 2020-02-27. An Interim Resolution Professional (IRP) was appointed, who then proceeded to carry out necessary functions. A Committee of Creditors (CoC) was constituted on 2020-03-12. The first CoC meeting was held on 2020-05-21, where the IRP was appointed as RP. The 3rd CoC meeting held on 2020-10-15 resolved with 100% voting to withdraw the CIRP proceedings and to pay the CIRP costs. Based on Form FA filed by the Financial Creditor and the CoC's resolution, the applicant/RP filed an application for withdrawal of IBA/55/KOB/2019 under Section 12A of IBC. The NCLT heard the arguments and perused the
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The case involves an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) against Sanchesz Healthcare Private Ltd. The CIRP was initiated based on an application filed by Kerala State Industrial Development Corporation Ltd under Section 7 of the IBC, 2016. The Interim Resolution Professional (IRP) was appointed and a Committee of Creditors (CoC) was constituted. Subsequently, the CoC resolved to withdraw the CIRP proceedings with 100% voting and to make payment of the CIRP costs. The application for withdrawal was filed under Section 12A of the IBC, read with relevant regulations.
Kerala State Industrial Development Corporation Ltd initiated CIRP against Sanchesz Healthcare Pvt Ltd under Section 7 of IBC, 2016. The application was admitted on 2020-02-27. An Interim Resolution Professional (IRP) was appointed, who then proceeded to carry out necessary functions. A Committee of Creditors (CoC) was constituted on 2020-03-12. The first CoC meeting was held on 2020-05-21, where the IRP was appointed as RP. The 3rd CoC meeting held on 2020-10-15 resolved with 100% voting to withdraw the CIRP proceedings and to pay the CIRP costs. Based on Form FA filed by the Financial Creditor and the CoC's resolution, the applicant/RP filed an application for withdrawal of IBA/55/KOB/2019 under Section 12A of IBC. The NCLT heard the arguments and perused the
…Tribunal admitted the application filed under…
The Committ…