The case involves an application (IA/1039(CHE)/2021) filed under Section 12A of the IBC, 2016, seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) proceedings. The CIRP was initiated by an order dated 2020-01-10 in CP/354/IB/2018, and Mr. C. Ramasubramanian was appointed as the Interim Resolution Professional (IRP). The Corporate Debtor had filed a petition before the High Court of Madras against the CIRP order. The High Court granted an interim stay on the CIRP proceedings until 2020-02-25. Meanwhile, a Memorandum of Understanding (MOU) was agreed upon between the Petitioner and the Corporate Debtor on 2021-09-20 to settle the matter.
The Corporate Insolvency Resolution Process (CIRP) was initiated against a Corporate Debtor via an order dated 2020-01-10 in CP/354/IB/2018, and Mr. C. Ramasubramanian was appointed as the Interim Resolution Professional (IRP). The Corporate Debtor challenged this order by filing a petition before the High Court of Madras, which granted an interim stay on the CIRP proceedings until 2020-02-25. Subsequently, a Memorandum of Understanding (MOU) was executed between the Petitioner and the Corporate Debtor on 2021-09-20, indicating a settlement of the matter. Due to the interim stay order, the Committee of Creditors (CoC) was not constituted. An application, IA/1039(CHE)/2021, was filed under Section 12A of the IBC, 2016, seeking withdrawal of the CIRP proceedings based on
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CP/354/IB/2018 was…
Order was issued to initiate CIRP against the…
The case involves an application (IA/1039(CHE)/2021) filed under Section 12A of the IBC, 2016, seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) proceedings. The CIRP was initiated by an order dated 2020-01-10 in CP/354/IB/2018, and Mr. C. Ramasubramanian was appointed as the Interim Resolution Professional (IRP). The Corporate Debtor had filed a petition before the High Court of Madras against the CIRP order. The High Court granted an interim stay on the CIRP proceedings until 2020-02-25. Meanwhile, a Memorandum of Understanding (MOU) was agreed upon between the Petitioner and the Corporate Debtor on 2021-09-20 to settle the matter.
The Corporate Insolvency Resolution Process (CIRP) was initiated against a Corporate Debtor via an order dated 2020-01-10 in CP/354/IB/2018, and Mr. C. Ramasubramanian was appointed as the Interim Resolution Professional (IRP). The Corporate Debtor challenged this order by filing a petition before the High Court of Madras, which granted an interim stay on the CIRP proceedings until 2020-02-25. Subsequently, a Memorandum of Understanding (MOU) was executed between the Petitioner and the Corporate Debtor on 2021-09-20, indicating a settlement of the matter. Due to the interim stay order, the Committee of Creditors (CoC) was not constituted. An application, IA/1039(CHE)/2021, was filed under Section 12A of the IBC, 2016, seeking withdrawal of the CIRP proceedings based on
…CP/354/IB/2018 was…
Order was issued to initiate CIRP against the…