The case involves M/s. Earthcon Promoters Ltd. as the petitioner and M/s. Shyam Digital Communications Pvt. Ltd. as the respondent. The matter was filed under Section 9 of the IBC 2016. The Resolution Professional filed an application under Section 12A, supported by a resolution passed by the Committee of Creditors (CoC) in its meeting held on October 1, 2019. The CoC approved the recall of the Corporate Insolvency Resolution Process (CIRP) with a 100% voting share. The Operational Creditor agreed to withdraw the original petition as they received three cheques, one of which was realized.
M/s. Earthcon Promoters Ltd. initiated proceedings against M/s. Shyam Digital Communications Pvt. Ltd. under Section 9 of the IBC 2016. The CIRP was initiated on September 3, 2019. The Resolution Professional filed an application under Section 12A of the IBC, supported by a resolution passed by the CoC on October 1, 2019, with 100% voting share, to recall the CIRP. The Operational Creditor agreed to withdraw the original petition after receiving three cheques, one of which was realized. The two Financial Creditors involved are Canara Bank and Bank of Baroda. The Resolution Professional also filed Form-FA, which is placed at page 31.
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The Committee of Creditors (CoC) held a…
Corporate Insolvency Resolution Process (CIRP)…
The case involves M/s. Earthcon Promoters Ltd. as the petitioner and M/s. Shyam Digital Communications Pvt. Ltd. as the respondent. The matter was filed under Section 9 of the IBC 2016. The Resolution Professional filed an application under Section 12A, supported by a resolution passed by the Committee of Creditors (CoC) in its meeting held on October 1, 2019. The CoC approved the recall of the Corporate Insolvency Resolution Process (CIRP) with a 100% voting share. The Operational Creditor agreed to withdraw the original petition as they received three cheques, one of which was realized.
M/s. Earthcon Promoters Ltd. initiated proceedings against M/s. Shyam Digital Communications Pvt. Ltd. under Section 9 of the IBC 2016. The CIRP was initiated on September 3, 2019. The Resolution Professional filed an application under Section 12A of the IBC, supported by a resolution passed by the CoC on October 1, 2019, with 100% voting share, to recall the CIRP. The Operational Creditor agreed to withdraw the original petition after receiving three cheques, one of which was realized. The two Financial Creditors involved are Canara Bank and Bank of Baroda. The Resolution Professional also filed Form-FA, which is placed at page 31.
The Committee of Creditors (CoC) held a…
Corporate Insolvency Resolution Process (CIRP)…