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 initially appointed as the Interim Resolution Professional (IRP) but was 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 held on 18.09.2018, 24.09.2018, and 16.10.2018, included discussions regarding the withdrawal of the petition under Section 12A. The CoC agreed to comply with the payment of CIRP costs as per the NCLT's order dated 25.07.2018, and decided
…On 23.10.2018, an application was submitted by the Resolution Professional seeking an order under Section 12A of the Insolvency Code. 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. The Committee of Creditors (CoC) held meetings on 18.09.2018, 24.09.2018, and 16.10.2018, where the withdrawal of the petition under Section 12A was discussed. The CoC agreed to comply with the payment of CIRP costs as per the NCLT's order dated 25.07.2018. Payment was received from Reliance and credited to the account of S N Plumbing P Ltd, with CSB. The
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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 initially appointed as the Interim Resolution Professional (IRP) but was 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 held on 18.09.2018, 24.09.2018, and 16.10.2018, included discussions regarding the withdrawal of the petition under Section 12A. The CoC agreed to comply with the payment of CIRP costs as per the NCLT's order dated 25.07.2018, and decided
…On 23.10.2018, an application was submitted by the Resolution Professional seeking an order under Section 12A of the Insolvency Code. 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. The Committee of Creditors (CoC) held meetings on 18.09.2018, 24.09.2018, and 16.10.2018, where the withdrawal of the petition under Section 12A was discussed. The CoC agreed to comply with the payment of CIRP costs as per the NCLT's order dated 25.07.2018. Payment was received from Reliance and credited to the account of S N Plumbing P Ltd, with CSB. The
…A Petition u/s.9 of IB Code was "Admitted"…
Mr. Sanjay Kumar Ruia was replaced by Mr. Ajay…