The case involves an application for withdrawal of Corporate Insolvency Resolution Process (CIRP) proceedings under Section 12-A of the Insolvency and Bankruptcy Code (IBC). The matter was settled, and government dues, including GST and VAT amounting to Rs. 20,000/-, were cleared.
M/s Gitansh International Pvt Ltd initiated CIRP against a Corporate Debtor. An IRP was appointed. During the CIRP, the parties reached a settlement. As part of the settlement, the Corporate Debtor paid outstanding government dues of Rs. 20,000/- related to GST and VAT. The IRP then filed an application under Section 12-A of the IBC for withdrawal of the CIRP proceedings. The NCLT considered the settlement and the payment of dues and accepted the application, withdrawing the CIRP.
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CIRP initiated…
Parties rea…
The case involves an application for withdrawal of Corporate Insolvency Resolution Process (CIRP) proceedings under Section 12-A of the Insolvency and Bankruptcy Code (IBC). The matter was settled, and government dues, including GST and VAT amounting to Rs. 20,000/-, were cleared.
M/s Gitansh International Pvt Ltd initiated CIRP against a Corporate Debtor. An IRP was appointed. During the CIRP, the parties reached a settlement. As part of the settlement, the Corporate Debtor paid outstanding government dues of Rs. 20,000/- related to GST and VAT. The IRP then filed an application under Section 12-A of the IBC for withdrawal of the CIRP proceedings. The NCLT considered the settlement and the payment of dues and accepted the application, withdrawing the CIRP.
CIRP initiated…
Parties rea…