The application, IA No.567 of 2023, was filed by the Interim Resolution Professional (IRP) of the Corporate Debtor under Section 12A of the Insolvency and Bankruptcy Code (IBC) r/w Regulation 30A of the IBBI (Corporate Insolvency Resolution Process) Regulations, 2016. The IRP sought permission to withdraw the initial petition filed under Section 7 of the IBC. The petitioners and the corporate debtor reached an amicable settlement before the constitution of the Committee of Creditors (CoC).
Mr. Nagappa Maiya & Ors. filed a petition against M/s. Apple Spire India LLP under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Interim Resolution Professional (IRP) filed an application (IA No.567 of 2023) seeking to withdraw the petition under Section 12A of the Code r/w Regulation 30A of the IBBI (CIRP) Regulations, 2016. No claims were received from any creditors, and the parties settled the matter amicably before the constitution of the Committee of Creditors (CoC). The Petitioners executed and submitted Form-FA to the Applicant withdrawing the instant CP. The IRP's fees and CIRP expenses were cleared by the Petitioners. The court found that the conditions for withdrawal were satisfied.
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Petitioners executed and submitted Form-FA to…
Order delivere…
The application, IA No.567 of 2023, was filed by the Interim Resolution Professional (IRP) of the Corporate Debtor under Section 12A of the Insolvency and Bankruptcy Code (IBC) r/w Regulation 30A of the IBBI (Corporate Insolvency Resolution Process) Regulations, 2016. The IRP sought permission to withdraw the initial petition filed under Section 7 of the IBC. The petitioners and the corporate debtor reached an amicable settlement before the constitution of the Committee of Creditors (CoC).
Mr. Nagappa Maiya & Ors. filed a petition against M/s. Apple Spire India LLP under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Interim Resolution Professional (IRP) filed an application (IA No.567 of 2023) seeking to withdraw the petition under Section 12A of the Code r/w Regulation 30A of the IBBI (CIRP) Regulations, 2016. No claims were received from any creditors, and the parties settled the matter amicably before the constitution of the Committee of Creditors (CoC). The Petitioners executed and submitted Form-FA to the Applicant withdrawing the instant CP. The IRP's fees and CIRP expenses were cleared by the Petitioners. The court found that the conditions for withdrawal were satisfied.
Petitioners executed and submitted Form-FA to…
Order delivere…