The case involves a corporate insolvency resolution process (CIRP) initiated against Ms. Archana Narang V/s. M/s. TGB Realty Pvt. Ltd. An Interim Resolution Professional (IRP) was appointed on 2019-05-23. The proceedings were subsequently stayed by the Apex Court on 2019-06-11 due to multiple writ petitions filed by home buyers. The Corporate Debtor then proposed settling the claim of the petitioner.
An IRP was appointed on 2019-05-23. The proceedings were stayed by the Apex Court on 2019-06-11 due to writ petitions filed by home buyers. The Corporate Debtor proposed settling the claim of the petitioner. A Demand Draft of Rs. 30,50,000/- was handed over to the financial creditor, who accepted it in full and final satisfaction. This amount included expenses incurred by the Financial Creditor towards the appointment of IRP. No COC was constituted due to the stay on proceedings. The petitioner relied on the 'Swiss Ribbons' case and requested termination of the CIRP.
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The IRP was ap…
The proceedings were…
The case involves a corporate insolvency resolution process (CIRP) initiated against Ms. Archana Narang V/s. M/s. TGB Realty Pvt. Ltd. An Interim Resolution Professional (IRP) was appointed on 2019-05-23. The proceedings were subsequently stayed by the Apex Court on 2019-06-11 due to multiple writ petitions filed by home buyers. The Corporate Debtor then proposed settling the claim of the petitioner.
An IRP was appointed on 2019-05-23. The proceedings were stayed by the Apex Court on 2019-06-11 due to writ petitions filed by home buyers. The Corporate Debtor proposed settling the claim of the petitioner. A Demand Draft of Rs. 30,50,000/- was handed over to the financial creditor, who accepted it in full and final satisfaction. This amount included expenses incurred by the Financial Creditor towards the appointment of IRP. No COC was constituted due to the stay on proceedings. The petitioner relied on the 'Swiss Ribbons' case and requested termination of the CIRP.
The IRP was ap…
The proceedings were…