The case involves an application filed by the Interim Resolution Professional (IRP) of the Corporate Debtor, seeking withdrawal of a petition filed by the Operational Creditor. A Corporate Insolvency Resolution Process (CIRP) petition against the Operational Creditor was admitted on 2019-12-10. The IRP took charge on 2019-12-18 and issued a publication on 2019-12-19, inviting claims from creditors. The IRP stated that no claims were received. The Corporate Debtor settled the amount due to the Operational Creditor and issued Form FA for withdrawal of the petition.
An application was filed by the IRP of the Corporate Debtor to withdraw a petition filed by the Operational Creditor. A CIRP petition against the Operational Creditor had been admitted on 2019-12-10. The IRP took charge on 2019-12-18 and invited claims from creditors via publication on 2019-12-19. No claims were received by the IRP. The Corporate Debtor settled the amount due to the Operational Creditor and issued Form FA for withdrawal of the petition. The relevance of these facts is that the settlement and lack of outstanding claims formed the basis for the court's decision to allow the withdrawal of the petition.
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A CIRP Petition against…
The Applicant/…
The case involves an application filed by the Interim Resolution Professional (IRP) of the Corporate Debtor, seeking withdrawal of a petition filed by the Operational Creditor. A Corporate Insolvency Resolution Process (CIRP) petition against the Operational Creditor was admitted on 2019-12-10. The IRP took charge on 2019-12-18 and issued a publication on 2019-12-19, inviting claims from creditors. The IRP stated that no claims were received. The Corporate Debtor settled the amount due to the Operational Creditor and issued Form FA for withdrawal of the petition.
An application was filed by the IRP of the Corporate Debtor to withdraw a petition filed by the Operational Creditor. A CIRP petition against the Operational Creditor had been admitted on 2019-12-10. The IRP took charge on 2019-12-18 and invited claims from creditors via publication on 2019-12-19. No claims were received by the IRP. The Corporate Debtor settled the amount due to the Operational Creditor and issued Form FA for withdrawal of the petition. The relevance of these facts is that the settlement and lack of outstanding claims formed the basis for the court's decision to allow the withdrawal of the petition.
A CIRP Petition against…
The Applicant/…