The application IA/3308/ND/2022 was filed by the Resolution Professional (RP) under Section 12A of the Insolvency and Bankruptcy Code (IBC) for the withdrawal of Corporate Insolvency Resolution Process (CIRP) proceedings. This was due to a settlement reached between the parties involved. The necessary Form-FA was filed, indicating the settlement. The IRP's fees and costs were already paid, and no claims were outstanding. The Committee of Creditors (CoC) had not been constituted.
Shree Navrang Suppliers Pvt Ltd initiated CIRP against Bajaj Appliances Ltd. An application IA/3308/ND/2022 was filed by the RP under Section 12A of the IBC for withdrawal of the CIRP proceedings based on a settlement between the parties. Form-FA, indicating the settlement, was filed. The IRP's fees and costs were already paid, and no claims were outstanding. The CoC had not been constituted. Two other applications, IA/1405/ND/2022 and IA/1412/ND/2022, were pending. The key fact is the settlement between the parties, which led to the withdrawal application and the subsequent discharge of the Corporate Debtor from CIRP.
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Application filed by the RP under Section…
Order delivered…
The application IA/3308/ND/2022 was filed by the Resolution Professional (RP) under Section 12A of the Insolvency and Bankruptcy Code (IBC) for the withdrawal of Corporate Insolvency Resolution Process (CIRP) proceedings. This was due to a settlement reached between the parties involved. The necessary Form-FA was filed, indicating the settlement. The IRP's fees and costs were already paid, and no claims were outstanding. The Committee of Creditors (CoC) had not been constituted.
Shree Navrang Suppliers Pvt Ltd initiated CIRP against Bajaj Appliances Ltd. An application IA/3308/ND/2022 was filed by the RP under Section 12A of the IBC for withdrawal of the CIRP proceedings based on a settlement between the parties. Form-FA, indicating the settlement, was filed. The IRP's fees and costs were already paid, and no claims were outstanding. The CoC had not been constituted. Two other applications, IA/1405/ND/2022 and IA/1412/ND/2022, were pending. The key fact is the settlement between the parties, which led to the withdrawal application and the subsequent discharge of the Corporate Debtor from CIRP.
Application filed by the RP under Section…
Order delivered…