The application was filed seeking an order in terms of Section 12 A of IBC, 2016, permitting withdrawal of the IBC application. The parties entered into a settlement agreement on 08.01.2024. A CoC meeting was held on 19.01.2024, and following the filing of Form FA and e-voting with a bank guarantee, the resolution was approved with 95.65% voting. The applicant stated that the final installment payable by 31.01.2024 has been paid.
The application sought withdrawal of IBC proceedings under Section 12A of IBC, 2016. A settlement agreement was reached on 08.01.2024. A CoC meeting occurred on 19.01.2024. Form FA was filed, and e-voting with a bank guarantee resulted in 95.65% approval. The final installment was paid by 31.01.2024. The court allowed the withdrawal, dismissed the petition, directed the IRP to hand over management to the Board of Directors, and released the Corporate Debtor from IBC rigors. The original CIRP application was CP(IB)/197(CHE)/2022, and the application for withdrawal was IA/432(CHE)/2024. The order discharging the corporate debtor was dated 05.07.2023.
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The application was filed seeking an order in terms of Section 12 A of IBC, 2016, permitting withdrawal of the IBC application. The parties entered into a settlement agreement on 08.01.2024. A CoC meeting was held on 19.01.2024, and following the filing of Form FA and e-voting with a bank guarantee, the resolution was approved with 95.65% voting. The applicant stated that the final installment payable by 31.01.2024 has been paid.
The application sought withdrawal of IBC proceedings under Section 12A of IBC, 2016. A settlement agreement was reached on 08.01.2024. A CoC meeting occurred on 19.01.2024. Form FA was filed, and e-voting with a bank guarantee resulted in 95.65% approval. The final installment was paid by 31.01.2024. The court allowed the withdrawal, dismissed the petition, directed the IRP to hand over management to the Board of Directors, and released the Corporate Debtor from IBC rigors. The original CIRP application was CP(IB)/197(CHE)/2022, and the application for withdrawal was IA/432(CHE)/2024. The order discharging the corporate debtor was dated 05.07.2023.
Parties entere…
CoC meeting held based…
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