The case involves an application filed by the Resolution Professional (RP) under Section 12A for the withdrawal of Corporate Insolvency Resolution Process (CIRP) initiated vide CP(IB) No. 735/KB/2019. The withdrawal is sought due to a settlement reached between the Operational Creditor and the Corporate Debtor. The Committee of Creditors (CoC) has approved the withdrawal with a 100% vote share.
Samskar Financial Services Pvt. Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against Votary Trading Pvt. Ltd. via CP(IB) No. 735/KB/2019. The Resolution Professional (RP) filed an application (CA(IB) No. 1490/KB/2019) under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking withdrawal of the CIRP. This withdrawal was based on a settlement reached between Samskar Financial Services Pvt. Ltd. (Operational Creditor) and Votary Trading Pvt. Ltd. (Corporate Debtor). The Committee of Creditors (CoC) approved the withdrawal with a 100% vote share. The RP confirmed that all fees and costs had been discharged. The NCLT Kolkata Bench considered the application and the CoC's approval.
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Hearing held on…
Initiation of Corporate…
The case involves an application filed by the Resolution Professional (RP) under Section 12A for the withdrawal of Corporate Insolvency Resolution Process (CIRP) initiated vide CP(IB) No. 735/KB/2019. The withdrawal is sought due to a settlement reached between the Operational Creditor and the Corporate Debtor. The Committee of Creditors (CoC) has approved the withdrawal with a 100% vote share.
Samskar Financial Services Pvt. Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against Votary Trading Pvt. Ltd. via CP(IB) No. 735/KB/2019. The Resolution Professional (RP) filed an application (CA(IB) No. 1490/KB/2019) under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking withdrawal of the CIRP. This withdrawal was based on a settlement reached between Samskar Financial Services Pvt. Ltd. (Operational Creditor) and Votary Trading Pvt. Ltd. (Corporate Debtor). The Committee of Creditors (CoC) approved the withdrawal with a 100% vote share. The RP confirmed that all fees and costs had been discharged. The NCLT Kolkata Bench considered the application and the CoC's approval.
Hearing held on…
Initiation of Corporate…