The case involves an application under Section 12A of the IBC, 2016, for the withdrawal of the ongoing Corporate Insolvency Resolution Process (CIRP) initiated against M/s Aarti Suitings Private Limited. The CIRP was initiated based on an application under Section 9 of the IBC, 2016. The Committee of Creditors (CoC), holding 97.34% of voting rights, approved the withdrawal of the CIRP.
M/s Sangam India Limited initiated CIRP against M/s Aarti Suitings Private Limited under Section 9 of IBC, 2016. The CIRP was admitted on 2021-06-17. Subsequently, M/s Sangam India Limited sought to withdraw the CIRP, submitting Form FA to the Resolution Professional (RP) on 2023-01-23. The CoC of Aarti Suitings Private Limited, holding 97.34% voting rights, approved the withdrawal. The RP then filed an application under Section 12A of the IBC, 2016, for withdrawal of the CIRP. The NCLT considered the application and the CoC's approval.
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CIRP initiated against…
RP received Form FA…
The case involves an application under Section 12A of the IBC, 2016, for the withdrawal of the ongoing Corporate Insolvency Resolution Process (CIRP) initiated against M/s Aarti Suitings Private Limited. The CIRP was initiated based on an application under Section 9 of the IBC, 2016. The Committee of Creditors (CoC), holding 97.34% of voting rights, approved the withdrawal of the CIRP.
M/s Sangam India Limited initiated CIRP against M/s Aarti Suitings Private Limited under Section 9 of IBC, 2016. The CIRP was admitted on 2021-06-17. Subsequently, M/s Sangam India Limited sought to withdraw the CIRP, submitting Form FA to the Resolution Professional (RP) on 2023-01-23. The CoC of Aarti Suitings Private Limited, holding 97.34% voting rights, approved the withdrawal. The RP then filed an application under Section 12A of the IBC, 2016, for withdrawal of the CIRP. The NCLT considered the application and the CoC's approval.
CIRP initiated against…
RP received Form FA…