The case involves a Corporate Insolvency Resolution Process (CIRP) initiated by Datamatics Digital Limited against Sipani Online Private Limited under Section 9 of the IBC, 2016. The CIRP was initially admitted by the Adjudicating Authority on 2019-07-18. Subsequently, the Petitioner/Operational Creditor filed I.A No. 400 of 2019 seeking to withdraw the main CP and set aside the CIRP proceedings. This IA was disposed of as withdrawn on 2019-09-05, granting liberty to the Party to file a fresh Application in accordance with law.
Datamatics Digital Limited initiated CIRP against Sipani Online Private Limited under Section 9 of the IBC, 2016. The Adjudicating Authority admitted the CIRP on 2019-07-18. Later, Datamatics Digital Limited sought to withdraw the CIRP via I.A No. 400 of 2019, which was allowed on 2019-09-05. Aggrieved by the initial order, Datamatics Digital Limited filed a Company Appeal (AT) (Insolvency) No. 1211 of 2019 before the NCLAT. The NCLAT disposed of the appeal on 2020-03-16, setting aside the admission order and declaring the CP as withdrawn. The applicant filed a memo of withdrawal on 2020-06-11, stating compliance with the NCLAT directions, including settlement of fees. The key fact is the NCLAT order which led to the dismissal of the CIRP.
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M/s. Datamatics Digital Limited filed…
The Adjudicating Authority admitted the CIRP…
The case involves a Corporate Insolvency Resolution Process (CIRP) initiated by Datamatics Digital Limited against Sipani Online Private Limited under Section 9 of the IBC, 2016. The CIRP was initially admitted by the Adjudicating Authority on 2019-07-18. Subsequently, the Petitioner/Operational Creditor filed I.A No. 400 of 2019 seeking to withdraw the main CP and set aside the CIRP proceedings. This IA was disposed of as withdrawn on 2019-09-05, granting liberty to the Party to file a fresh Application in accordance with law.
Datamatics Digital Limited initiated CIRP against Sipani Online Private Limited under Section 9 of the IBC, 2016. The Adjudicating Authority admitted the CIRP on 2019-07-18. Later, Datamatics Digital Limited sought to withdraw the CIRP via I.A No. 400 of 2019, which was allowed on 2019-09-05. Aggrieved by the initial order, Datamatics Digital Limited filed a Company Appeal (AT) (Insolvency) No. 1211 of 2019 before the NCLAT. The NCLAT disposed of the appeal on 2020-03-16, setting aside the admission order and declaring the CP as withdrawn. The applicant filed a memo of withdrawal on 2020-06-11, stating compliance with the NCLAT directions, including settlement of fees. The key fact is the NCLAT order which led to the dismissal of the CIRP.
M/s. Datamatics Digital Limited filed…
The Adjudicating Authority admitted the CIRP…