This case involves an application submitted by the Resolution Professional seeking an order under Section 12A of the Insolvency Code for withdrawal of the insolvency petition. An initial petition under Section 9 of the IB Code was admitted on 16.08.2017 for a debt of Rs. 13,76,525. Mr. Sanjay Kumar Ruia was appointed as the initial IRP, later replaced by Mr. Ajay Agrawal. The case has a history of disciplinary action by IBBI against the initial IRP. The Committee of Creditors (CoC) meetings were held on 18.09.2018, 24.09.2018, and 16.10.2018, where the decision to withdraw the petition under Section 12A was made.
An application was submitted on 23.10.2018 by the Resolution Professional seeking an order under Section 12A of the Insolvency Code to withdraw the insolvency petition. An earlier petition under Section 9 of the IB Code was admitted on 16.08.2017, concerning a debt of Rs. 13,76,525. Sanjay Kumar Ruia was initially appointed as the IRP but was later replaced by Ajay Agrawal. The case had a history of disciplinary action by IBBI against the initial IRP. Meetings of the Committee of Creditors (CoC) were held on 18.09.2018, 24.09.2018, and 16.10.2018, where the decision to withdraw the petition under Section 12A was made. The CoC considered the request for withdrawal, noting that the initial call for Expression of Interest (EOI) was considered null and void due to
…Sign in to view the parties.
A Petition u/s.9 of IB Code was 'Admitted'…
Mr. Sanjay Kumar Ruia was replaced by Mr. Ajay…
This case involves an application submitted by the Resolution Professional seeking an order under Section 12A of the Insolvency Code for withdrawal of the insolvency petition. An initial petition under Section 9 of the IB Code was admitted on 16.08.2017 for a debt of Rs. 13,76,525. Mr. Sanjay Kumar Ruia was appointed as the initial IRP, later replaced by Mr. Ajay Agrawal. The case has a history of disciplinary action by IBBI against the initial IRP. The Committee of Creditors (CoC) meetings were held on 18.09.2018, 24.09.2018, and 16.10.2018, where the decision to withdraw the petition under Section 12A was made.
An application was submitted on 23.10.2018 by the Resolution Professional seeking an order under Section 12A of the Insolvency Code to withdraw the insolvency petition. An earlier petition under Section 9 of the IB Code was admitted on 16.08.2017, concerning a debt of Rs. 13,76,525. Sanjay Kumar Ruia was initially appointed as the IRP but was later replaced by Ajay Agrawal. The case had a history of disciplinary action by IBBI against the initial IRP. Meetings of the Committee of Creditors (CoC) were held on 18.09.2018, 24.09.2018, and 16.10.2018, where the decision to withdraw the petition under Section 12A was made. The CoC considered the request for withdrawal, noting that the initial call for Expression of Interest (EOI) was considered null and void due to
…A Petition u/s.9 of IB Code was 'Admitted'…
Mr. Sanjay Kumar Ruia was replaced by Mr. Ajay…