The Resolution Professional (RP) filed an application under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking permission to withdraw the ongoing Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Bhaskar Foods Pvt Ltd. The CIRP was initiated based on an application under Section 9 of the IBC, which was admitted on August 25, 2022.
An application was filed by the Resolution Professional (RP) under Section 12A of the IBC, 2016, seeking permission to withdraw the Corporate Insolvency Resolution Process (CIRP) against Bhaskar Foods Pvt Ltd. The CIRP was initiated based on an application under Section 9 of the IBC, admitted on August 25, 2022. The Committee of Creditors (CoC) consists of two members: M/s Agarwal Coal Depot and M/s Oriental Coal Corporation, with the latter being the original applicant under Section 9. The CoC voted with 100% consensus to withdraw the CIRP. A settlement was reached with the two operational creditors, who are also the members of the CoC, and payments were made to them. The RP requested the court to allow the withdrawal application, leading to the termination of the
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An application under Section 9 of the IBC, 2016…
The court delivered an order allowing the…
The Resolution Professional (RP) filed an application under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking permission to withdraw the ongoing Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Bhaskar Foods Pvt Ltd. The CIRP was initiated based on an application under Section 9 of the IBC, which was admitted on August 25, 2022.
An application was filed by the Resolution Professional (RP) under Section 12A of the IBC, 2016, seeking permission to withdraw the Corporate Insolvency Resolution Process (CIRP) against Bhaskar Foods Pvt Ltd. The CIRP was initiated based on an application under Section 9 of the IBC, admitted on August 25, 2022. The Committee of Creditors (CoC) consists of two members: M/s Agarwal Coal Depot and M/s Oriental Coal Corporation, with the latter being the original applicant under Section 9. The CoC voted with 100% consensus to withdraw the CIRP. A settlement was reached with the two operational creditors, who are also the members of the CoC, and payments were made to them. The RP requested the court to allow the withdrawal application, leading to the termination of the
…An application under Section 9 of the IBC, 2016…
The court delivered an order allowing the…