The case involves an Interlocutory Application (IA No. 830 of 2019) filed in CP (IB) No. 700/07/HDB/2018 under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30(A)(1)(a) of the Insolvency and Bankruptcy Code (Corporate Insolvency Resolution Process) Regulations, 2016. The application was filed by the Resolution Professional (RP) on behalf of Bhiragacha Finance Company Pvt Ltd, the sole member of the Committee of Creditors (CoC), seeking to recall the order dated 24.04.2019, which had admitted and initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Sujana Capital Services Limited. The applicant also sought permission to withdraw the petition.
Bhiragacha Finance Company Pvt Ltd initiated Corporate Insolvency Resolution Process (CIRP) against Sujana Capital Services Limited. The petition was admitted on 2019-04-24. Bhiragacha Finance Company Pvt Ltd was the sole financial creditor. The Corporate Debtor, Sujana Capital Services Limited, settled the dues of the Financial Creditor by paying ₹50,00,000 on 2019-09-16 through Info Tech Infin and Trading Private Limited. The Financial Creditor acknowledged the settlement and issued Form FA expressing interest to withdraw the CIRP. The Committee of Creditors (CoC), consisting solely of the Financial Creditor, unanimously approved the withdrawal of the CIRP in its meeting on 2019-09-16. The Resolution Professional (RP) then filed an application (IA No. 830 of 2019)
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CP (IB) No.700/07/HDB/20…
The petition bearing CP…
The case involves an Interlocutory Application (IA No. 830 of 2019) filed in CP (IB) No. 700/07/HDB/2018 under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30(A)(1)(a) of the Insolvency and Bankruptcy Code (Corporate Insolvency Resolution Process) Regulations, 2016. The application was filed by the Resolution Professional (RP) on behalf of Bhiragacha Finance Company Pvt Ltd, the sole member of the Committee of Creditors (CoC), seeking to recall the order dated 24.04.2019, which had admitted and initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Sujana Capital Services Limited. The applicant also sought permission to withdraw the petition.
Bhiragacha Finance Company Pvt Ltd initiated Corporate Insolvency Resolution Process (CIRP) against Sujana Capital Services Limited. The petition was admitted on 2019-04-24. Bhiragacha Finance Company Pvt Ltd was the sole financial creditor. The Corporate Debtor, Sujana Capital Services Limited, settled the dues of the Financial Creditor by paying ₹50,00,000 on 2019-09-16 through Info Tech Infin and Trading Private Limited. The Financial Creditor acknowledged the settlement and issued Form FA expressing interest to withdraw the CIRP. The Committee of Creditors (CoC), consisting solely of the Financial Creditor, unanimously approved the withdrawal of the CIRP in its meeting on 2019-09-16. The Resolution Professional (RP) then filed an application (IA No. 830 of 2019)
…CP (IB) No.700/07/HDB/20…
The petition bearing CP…