The case pertains to CP(IB) No. 51/CTB/2019 filed for the termination of the CIRP process, which was initiated on 2019-09-27. The Operational Creditor filed IA No. 155/CTB/2019 seeking the termination. The parties have settled the claim between themselves under a deed of settlement dated 2019-10-30. The Resolution Professional (RP) filed the 2nd progress report. The CoC meeting held on 2019-11-08 approved with 100% voting for filing the petition under Section 12A for withdrawal of the CIRP.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Shree Shankar Infratech Pvt. Ltd. based on an application filed by M/s MT & T Rentals Ltd. The CIRP was initiated on 2019-09-27. Subsequently, the Operational Creditor (M/s MT & T Rentals Ltd.) filed IA No. 155/CTB/2019 seeking the termination of the CIRP. This request was made because the parties had reached a settlement under a deed of settlement dated 2019-10-30. The Resolution Professional (RP) filed the 2nd progress report. A meeting of the Committee of Creditors (CoC) was held on 2019-11-08, where the withdrawal of the CIRP under Section 12A of the Insolvency and Bankruptcy Code (IBC) was approved with 100% voting. The Operational Creditor then sought permission from the
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The CIRP process was…
The parties settled the…
The case pertains to CP(IB) No. 51/CTB/2019 filed for the termination of the CIRP process, which was initiated on 2019-09-27. The Operational Creditor filed IA No. 155/CTB/2019 seeking the termination. The parties have settled the claim between themselves under a deed of settlement dated 2019-10-30. The Resolution Professional (RP) filed the 2nd progress report. The CoC meeting held on 2019-11-08 approved with 100% voting for filing the petition under Section 12A for withdrawal of the CIRP.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Shree Shankar Infratech Pvt. Ltd. based on an application filed by M/s MT & T Rentals Ltd. The CIRP was initiated on 2019-09-27. Subsequently, the Operational Creditor (M/s MT & T Rentals Ltd.) filed IA No. 155/CTB/2019 seeking the termination of the CIRP. This request was made because the parties had reached a settlement under a deed of settlement dated 2019-10-30. The Resolution Professional (RP) filed the 2nd progress report. A meeting of the Committee of Creditors (CoC) was held on 2019-11-08, where the withdrawal of the CIRP under Section 12A of the Insolvency and Bankruptcy Code (IBC) was approved with 100% voting. The Operational Creditor then sought permission from the
…The CIRP process was…
The parties settled the…