The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applicant is Krishna Textile, and the respondent is Bharat Trade Link Pvt Ltd. The Interim Resolution Professional (IRP) for the applicant states that no claims have been received, and the Committee of Creditors (CoC) has not been formed. The respondent's counsel claims that the due amount has been received, rendering the application infructuous.
Krishna Textile filed an application under Section 9 of the IBC against Bharat Trade Link Pvt Ltd. Sachin Sinha, the IRP for Krishna Textile, stated that no claims had been received, and the CoC was not formed. Vishal Raval, the counsel for Bharat Trade Link Pvt Ltd, stated that the due amount had been received, rendering the application infructuous. Sachin Sinha, representing the applicant, sought permission to withdraw the application. The key fact is the respondent's claim of payment, which led to the applicant seeking withdrawal.
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Order delivered on…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applicant is Krishna Textile, and the respondent is Bharat Trade Link Pvt Ltd. The Interim Resolution Professional (IRP) for the applicant states that no claims have been received, and the Committee of Creditors (CoC) has not been formed. The respondent's counsel claims that the due amount has been received, rendering the application infructuous.
Krishna Textile filed an application under Section 9 of the IBC against Bharat Trade Link Pvt Ltd. Sachin Sinha, the IRP for Krishna Textile, stated that no claims had been received, and the CoC was not formed. Vishal Raval, the counsel for Bharat Trade Link Pvt Ltd, stated that the due amount had been received, rendering the application infructuous. Sachin Sinha, representing the applicant, sought permission to withdraw the application. The key fact is the respondent's claim of payment, which led to the applicant seeking withdrawal.
Order delivered on…