The application was filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the Insolvency and Bankruptcy Board of India (IBBI) (Resolution Process for Corporate Debtor) Regulations, 2016. The IRP sought permission from the Adjudicating Authority to withdraw the main Corporate Insolvency Resolution Process (CIRP) application, CP(IB)/187 of 2022. The main petition was admitted on 03.07.2023 for initiating CIRP against the Corporate Debtor, Adoration Ceramica Pvt Ltd.
Milo Tile LLP filed an application under Section 9 of the IBC against Adoration Ceramica Pvt Ltd. The application was admitted on 03.07.2023 for initiating CIRP against Adoration Ceramica Pvt Ltd. Subsequently, on 05.07.2023, the Operational Creditor (Milo Tile LLP) and the Corporate Debtor (Adoration Ceramica Pvt Ltd) entered into a settlement, and the Corporate Debtor made the entire payment to the Operational Creditor. The IRP filed an application (IA 755 of 2023) under Section 12A of the IBC, seeking permission to withdraw the main CIRP application (CP(IB)/187 of 2022). The cost to the IRP was also paid by the Operational Creditor. The Adjudicating Authority considered these facts and allowed the withdrawal application, terminating the CIRP proceedings.
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Milo Tile LLP filed an application under…
The main petition was…
The application was filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the Insolvency and Bankruptcy Board of India (IBBI) (Resolution Process for Corporate Debtor) Regulations, 2016. The IRP sought permission from the Adjudicating Authority to withdraw the main Corporate Insolvency Resolution Process (CIRP) application, CP(IB)/187 of 2022. The main petition was admitted on 03.07.2023 for initiating CIRP against the Corporate Debtor, Adoration Ceramica Pvt Ltd.
Milo Tile LLP filed an application under Section 9 of the IBC against Adoration Ceramica Pvt Ltd. The application was admitted on 03.07.2023 for initiating CIRP against Adoration Ceramica Pvt Ltd. Subsequently, on 05.07.2023, the Operational Creditor (Milo Tile LLP) and the Corporate Debtor (Adoration Ceramica Pvt Ltd) entered into a settlement, and the Corporate Debtor made the entire payment to the Operational Creditor. The IRP filed an application (IA 755 of 2023) under Section 12A of the IBC, seeking permission to withdraw the main CIRP application (CP(IB)/187 of 2022). The cost to the IRP was also paid by the Operational Creditor. The Adjudicating Authority considered these facts and allowed the withdrawal application, terminating the CIRP proceedings.
Milo Tile LLP filed an application under…
The main petition was…