The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Archit Builders Pvt Ltd. The application was filed under Sections 12A and 60(5) of the IBC 2016. The Financial Creditor filed an application under Section 7 of IBC, and the Tribunal admitted the Corporate Debtor into CIRP on 13.07.2022, appointing a Resolution Professional. Subsequently, the suspended directors of the Corporate Debtor engaged in settlement talks with the Financial Creditor, IDBI Bank Ltd, and reached a compromise. The Financial Creditor intimated the Applicant about the settlement, and Form FA was submitted under Regulation 30A of the IBBI.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Archit Builders Pvt Ltd based on an application filed by the Financial Creditor under Section 7 of the IBC. The Tribunal admitted the Corporate Debtor into CIRP on 13.07.2022 and appointed a Resolution Professional. The suspended directors of the Corporate Debtor then engaged in settlement talks with the Financial Creditor, IDBI Bank Ltd, and reached a compromise. The Financial Creditor intimated the Applicant about the settlement and submitted Form FA under Regulation 30A of the IBBI on 02.06.2023. The 13th COC meeting was held on 05.06.2023, where Form FA was considered, and it was unanimously resolved to withdraw CIRP. The Applicant was authorized to file an Application to withdraw CIRP. The
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CP(IB)/9(CHE…
Tribunal admitted the Corporate Debtor into…
The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Archit Builders Pvt Ltd. The application was filed under Sections 12A and 60(5) of the IBC 2016. The Financial Creditor filed an application under Section 7 of IBC, and the Tribunal admitted the Corporate Debtor into CIRP on 13.07.2022, appointing a Resolution Professional. Subsequently, the suspended directors of the Corporate Debtor engaged in settlement talks with the Financial Creditor, IDBI Bank Ltd, and reached a compromise. The Financial Creditor intimated the Applicant about the settlement, and Form FA was submitted under Regulation 30A of the IBBI.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Archit Builders Pvt Ltd based on an application filed by the Financial Creditor under Section 7 of the IBC. The Tribunal admitted the Corporate Debtor into CIRP on 13.07.2022 and appointed a Resolution Professional. The suspended directors of the Corporate Debtor then engaged in settlement talks with the Financial Creditor, IDBI Bank Ltd, and reached a compromise. The Financial Creditor intimated the Applicant about the settlement and submitted Form FA under Regulation 30A of the IBBI on 02.06.2023. The 13th COC meeting was held on 05.06.2023, where Form FA was considered, and it was unanimously resolved to withdraw CIRP. The Applicant was authorized to file an Application to withdraw CIRP. The
…CP(IB)/9(CHE…
Tribunal admitted the Corporate Debtor into…