The Corporate Insolvency Resolution Process (CIRP) was initiated against Whiteland Engineering Technologies Pvt Ltd based on a Company Petition C.P. (IB)/336(MB)2020, admitted on 27.01.2023. Following the admission, the Interim Resolution Professional (IRP) published Form-A on 06.02.2023 to invite claims, setting 17.02.2023 as the last date for submission. However, the operational creditor subsequently paid the entire outstanding amount in full. As a result of the payment and the absence of any other claims, the Committee of Creditors (CoC) was not constituted. Consequently, the IRP filed IA-783/2023 under Section 12A of the IBC seeking withdrawal of the CIRP. The NCLT noted that neither the counsel nor the applicant/IRP was present during the hearing but perused the

The Corporate Insolvency Resolution Process (CIRP) was initiated against Whiteland Engineering Technologies Pvt Ltd based on a Company Petition C.P. (IB)/336(MB)2020, admitted on 27.01.2023. Following the admission, the Interim Resolution Professional (IRP) published Form-A on 06.02.2023 to invite claims, setting 17.02.2023 as the last date for submission. However, the operational creditor subsequently paid the entire outstanding amount in full. As a result of the payment and the absence of any other claims, the Committee of Creditors (CoC) was not constituted. Consequently, the IRP filed IA-783/2023 under Section 12A of the IBC seeking withdrawal of the CIRP. The NCLT noted that neither the counsel nor the applicant/IRP was present during the hearing but perused the