M/s Reach International, the operational creditor, initiated CIRP against M/s Altech Infrastructure Private Limited under Section 9 of the IBC, 2016. The Adjudicating Authority initiated the CIRP process and appointed Mr. Vinod Kumar Chaurasia as the Interim Resolution Professional (IRP). Subsequently, the applicants (M/s Reach International and Mr. Amit Kumra, the suspended director of the corporate debtor) filed an application (I.A. No. 411 of 2022) seeking withdrawal of the Company Petition No. (IB)-3013 (ND) 2019 based on a settlement between the parties. The IRP opposed the withdrawal application, arguing that the applicants should file the withdrawal application through the IRP under Regulation 30A read with Section 12A of the IBC, 2016.
M/s Reach International, acting as the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Altech Infrastructure Private Limited, the Corporate Debtor, by filing Company Petition No. (IB)-3013 (ND) 2019 under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the petition and initiated CIRP, appointing Mr. Vinod Kumar Chaurasia as the Interim Resolution Professional (IRP). Subsequently, M/s Reach International and Mr. Amit Kumra, the suspended director of the Corporate Debtor, jointly filed I.A. No. 411 of 2022 seeking withdrawal of the CIRP application based on a settlement reached between the parties, evidenced by a Memorandum of Settlement dated 21.01.2022 and notarized on
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M/s Reach International filed Company Petition…
The Adjudicating Authority initiated the CIRP…
M/s Reach International, the operational creditor, initiated CIRP against M/s Altech Infrastructure Private Limited under Section 9 of the IBC, 2016. The Adjudicating Authority initiated the CIRP process and appointed Mr. Vinod Kumar Chaurasia as the Interim Resolution Professional (IRP). Subsequently, the applicants (M/s Reach International and Mr. Amit Kumra, the suspended director of the corporate debtor) filed an application (I.A. No. 411 of 2022) seeking withdrawal of the Company Petition No. (IB)-3013 (ND) 2019 based on a settlement between the parties. The IRP opposed the withdrawal application, arguing that the applicants should file the withdrawal application through the IRP under Regulation 30A read with Section 12A of the IBC, 2016.
M/s Reach International, acting as the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Altech Infrastructure Private Limited, the Corporate Debtor, by filing Company Petition No. (IB)-3013 (ND) 2019 under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the petition and initiated CIRP, appointing Mr. Vinod Kumar Chaurasia as the Interim Resolution Professional (IRP). Subsequently, M/s Reach International and Mr. Amit Kumra, the suspended director of the Corporate Debtor, jointly filed I.A. No. 411 of 2022 seeking withdrawal of the CIRP application based on a settlement reached between the parties, evidenced by a Memorandum of Settlement dated 21.01.2022 and notarized on
…M/s Reach International filed Company Petition…
The Adjudicating Authority initiated the CIRP…