CA-533 of 2020 is an application filed by the Interim Resolution Professional (IRP) under Section 12(A) of the Insolvency and Bankruptcy Code (IBC) seeking withdrawal of the Insolvency Application IB/2241(ND)2019. The Committee of Creditors (COC) deliberated on the issue of withdrawal of the application by the Operational Creditor in its first meeting held on 15.01.2020.
The Interim Resolution Professional (IRP) filed an application (CA-533 of 2020) under Section 12(A) of the IBC to withdraw the insolvency application (IB/2241(ND)2019). The Committee of Creditors (COC) approved the withdrawal with a 99.16% voting share during their meeting on 15.01.2020. The IRP's counsel confirmed that all dues to the IRP had been paid. The application for withdrawal was made by the Operational Creditor, Mr. Harvinder Singh Luthra. The relevance of these facts is that they demonstrate the process followed for withdrawing an insolvency application and the approval required from the COC.
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The Committee of Creditors (COC) held its first…
The National Company Law Tribunal (NCLT) passed…
CA-533 of 2020 is an application filed by the Interim Resolution Professional (IRP) under Section 12(A) of the Insolvency and Bankruptcy Code (IBC) seeking withdrawal of the Insolvency Application IB/2241(ND)2019. The Committee of Creditors (COC) deliberated on the issue of withdrawal of the application by the Operational Creditor in its first meeting held on 15.01.2020.
The Interim Resolution Professional (IRP) filed an application (CA-533 of 2020) under Section 12(A) of the IBC to withdraw the insolvency application (IB/2241(ND)2019). The Committee of Creditors (COC) approved the withdrawal with a 99.16% voting share during their meeting on 15.01.2020. The IRP's counsel confirmed that all dues to the IRP had been paid. The application for withdrawal was made by the Operational Creditor, Mr. Harvinder Singh Luthra. The relevance of these facts is that they demonstrate the process followed for withdrawing an insolvency application and the approval required from the COC.
The Committee of Creditors (COC) held its first…
The National Company Law Tribunal (NCLT) passed…