The case involves a miscellaneous application filed by the Resolution Professional (RP) seeking an order under Section 12A of the Insolvency and Bankruptcy Code for withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Tuljai Industrial Products Private Limited. A petition under Section 7 of the Code was admitted on 2019-11-11 for a debt of Rs. 16,78,747/-, and Udaykumar Bhaskar Bhat was appointed as Interim Resolution Professional. The RP made a public announcement on 2019-11-28 and received a claim from the Operational Creditor. A Committee of Creditors (CoC) was formed, consisting of a sole operational creditor, and its first meeting was held on 2019-12-23.
A petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) was admitted on 2019-11-11, concerning a debt of Rs. 16,78,747/-. Udaykumar Bhaskar Bhat was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2019-11-28, and a claim was received from the Operational Creditor, leading to the formation of a Committee of Creditors (CoC) consisting of a single operational creditor. The first CoC meeting occurred on 2019-12-23. The second CoC meeting on 2020-02-04 involved discussions about withdrawing the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Resolution Professional informed the CoC that all insolvency resolution process costs had been received, and a bank guarantee was not obtained.
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A petition under…
The Resolution…
The case involves a miscellaneous application filed by the Resolution Professional (RP) seeking an order under Section 12A of the Insolvency and Bankruptcy Code for withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Tuljai Industrial Products Private Limited. A petition under Section 7 of the Code was admitted on 2019-11-11 for a debt of Rs. 16,78,747/-, and Udaykumar Bhaskar Bhat was appointed as Interim Resolution Professional. The RP made a public announcement on 2019-11-28 and received a claim from the Operational Creditor. A Committee of Creditors (CoC) was formed, consisting of a sole operational creditor, and its first meeting was held on 2019-12-23.
A petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) was admitted on 2019-11-11, concerning a debt of Rs. 16,78,747/-. Udaykumar Bhaskar Bhat was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2019-11-28, and a claim was received from the Operational Creditor, leading to the formation of a Committee of Creditors (CoC) consisting of a single operational creditor. The first CoC meeting occurred on 2019-12-23. The second CoC meeting on 2020-02-04 involved discussions about withdrawing the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Resolution Professional informed the CoC that all insolvency resolution process costs had been received, and a bank guarantee was not obtained.
…A petition under…
The Resolution…