The case involves an application filed in a pending petition registered as CP No. (IB)-266(PB)/2018 under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application seeks the withdrawal of the aforementioned petition. The corporate insolvency resolution process (CIRP) was initiated on 12.02.2019 when the petition was admitted. Subsequently, the Committee of Creditors (CoC) was constituted on 07.03.2019, comprising of one person, M/s. Sunaini Gupta, the financial creditor and the applicant in the present application.
M/s. Sunaini Gupta filed an application for withdrawal of a Corporate Insolvency Resolution Process (CIRP) that had been initiated against M/s. Southend Infrastructure Pvt. Ltd. The CIRP was initiated based on a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP had been initiated on 12.02.2019, and a Committee of Creditors (CoC) was constituted on 07.03.2019, with M/s. Sunaini Gupta as the sole member, being the financial creditor. In response to a public notice, five claims were received, two of which were withdrawn. Of the remaining three, one was filed by the financial creditor-applicant, and two were filed by individuals but remained unverified. The applicant argued that being the sole member of the CoC, the filing of the
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The initial petition…
The Corporate…
The case involves an application filed in a pending petition registered as CP No. (IB)-266(PB)/2018 under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application seeks the withdrawal of the aforementioned petition. The corporate insolvency resolution process (CIRP) was initiated on 12.02.2019 when the petition was admitted. Subsequently, the Committee of Creditors (CoC) was constituted on 07.03.2019, comprising of one person, M/s. Sunaini Gupta, the financial creditor and the applicant in the present application.
M/s. Sunaini Gupta filed an application for withdrawal of a Corporate Insolvency Resolution Process (CIRP) that had been initiated against M/s. Southend Infrastructure Pvt. Ltd. The CIRP was initiated based on a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP had been initiated on 12.02.2019, and a Committee of Creditors (CoC) was constituted on 07.03.2019, with M/s. Sunaini Gupta as the sole member, being the financial creditor. In response to a public notice, five claims were received, two of which were withdrawn. Of the remaining three, one was filed by the financial creditor-applicant, and two were filed by individuals but remained unverified. The applicant argued that being the sole member of the CoC, the filing of the
…The initial petition…
The Corporate…