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