The case pertains to an application for the withdrawal of the Corporate Insolvency Resolution (CIR) Process initiated in case No. IB/1494/ND/2019. The application was filed before the National Company Law Tribunal (NCLT), New Delhi.
Mr. Amit Industries Pvt. Ltd. filed a petition against M/s. Svasca Industries India Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC). An application was subsequently moved for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated in case No. IB/1494/ND/2019. The NCLT heard the submissions from the petitioner's counsel, the Interim Resolution Professional (IRP), and the corporate debtor's representatives. After reviewing the application and hearing the parties, the NCLT permitted the withdrawal of the CIRP.
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Order delivered on…
The case pertains to an application for the withdrawal of the Corporate Insolvency Resolution (CIR) Process initiated in case No. IB/1494/ND/2019. The application was filed before the National Company Law Tribunal (NCLT), New Delhi.
Mr. Amit Industries Pvt. Ltd. filed a petition against M/s. Svasca Industries India Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC). An application was subsequently moved for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated in case No. IB/1494/ND/2019. The NCLT heard the submissions from the petitioner's counsel, the Interim Resolution Professional (IRP), and the corporate debtor's representatives. After reviewing the application and hearing the parties, the NCLT permitted the withdrawal of the CIRP.
Order delivered on…