The case involves an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against Anand Divine Developers Private Limited. The application was filed by the IRP, Mr. Harish Taneja, under Section 12A of the Insolvency and Bankruptcy Code (IBC) read with Regulation 30A of the IBBI (CIRP) Regulations, 2016, and Rule 11 of the NCLT Rules, 2016. The CIRP was initially initiated by the Financial Creditor, ICICI Prudential Venture Capital Fund Real Estate Scheme I.
ICICI Prudential Venture Capital Fund Real Estate Scheme I, represented by its Investment manager ICICI Prudential Asset Management Company Limited, initiated CIRP against Anand Divine Developers Private Limited. Before the formation of the Committee of Creditors (CoC), ICICI Prudential and Anand Divine Developers Private Limited reached a settlement. The IRP, Harish Taneja, filed an application (IA-2391/2022) under Section 12A of the IBC, read with Regulation 30A of the IBBI (CIRP) Regulations, 2016, and Rule 11 of the NCLT Rules, 2016, for withdrawal of the CIRP proceedings. The Financial Creditor submitted Form-FA to withdraw the application admitted under Section 7 of the IBC. The NCLT considered the settlement and allowed the withdrawal application.
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The Insolvency and Bankruptcy Code, 2016 (IBC)…
The NCLT delivered the order allowing the…
The case involves an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against Anand Divine Developers Private Limited. The application was filed by the IRP, Mr. Harish Taneja, under Section 12A of the Insolvency and Bankruptcy Code (IBC) read with Regulation 30A of the IBBI (CIRP) Regulations, 2016, and Rule 11 of the NCLT Rules, 2016. The CIRP was initially initiated by the Financial Creditor, ICICI Prudential Venture Capital Fund Real Estate Scheme I.
ICICI Prudential Venture Capital Fund Real Estate Scheme I, represented by its Investment manager ICICI Prudential Asset Management Company Limited, initiated CIRP against Anand Divine Developers Private Limited. Before the formation of the Committee of Creditors (CoC), ICICI Prudential and Anand Divine Developers Private Limited reached a settlement. The IRP, Harish Taneja, filed an application (IA-2391/2022) under Section 12A of the IBC, read with Regulation 30A of the IBBI (CIRP) Regulations, 2016, and Rule 11 of the NCLT Rules, 2016, for withdrawal of the CIRP proceedings. The Financial Creditor submitted Form-FA to withdraw the application admitted under Section 7 of the IBC. The NCLT considered the settlement and allowed the withdrawal application.
The Insolvency and Bankruptcy Code, 2016 (IBC)…
The NCLT delivered the order allowing the…