The case pertains to an application filed by the Resolution Professional (RP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking withdrawal of the application due to settlement of the claim. The RP submitted that their fees and resolution costs have been paid, and no dues remain regarding the resolution cost towards the Corporate Insolvency Resolution Process (CIRP).
The Resolution Professional filed an application under Section 12A of the I&B Code, 2016, seeking withdrawal of the CIRP application. The reason for the withdrawal was the settlement of the claim. The Resolution Professional confirmed that all fees and resolution costs had been paid, and no amount was outstanding. The Committee of Creditors (CoC) unanimously approved the Operational Creditor's request to withdraw the application. This approval was in compliance with Section 12A of the Code, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
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Hearing held on…
The case pertains to an application filed by the Resolution Professional (RP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking withdrawal of the application due to settlement of the claim. The RP submitted that their fees and resolution costs have been paid, and no dues remain regarding the resolution cost towards the Corporate Insolvency Resolution Process (CIRP).
The Resolution Professional filed an application under Section 12A of the I&B Code, 2016, seeking withdrawal of the CIRP application. The reason for the withdrawal was the settlement of the claim. The Resolution Professional confirmed that all fees and resolution costs had been paid, and no amount was outstanding. The Committee of Creditors (CoC) unanimously approved the Operational Creditor's request to withdraw the application. This approval was in compliance with Section 12A of the Code, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
Hearing held on…