The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking to withdraw the Corporate Insolvency Resolution Process (CIRP) initiated against Brijbihari Metallics Private Limited. The CIRP was initially triggered by Seven Star Steels Limited, an operational creditor, under Section 9 of the IBC. The Tribunal had initiated the CIRP against the corporate debtor on 24.08.2023. The IRP had also made public announcements as required by regulations.
Seven Star Steels Limited, an operational creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against Brijbihari Metallics Private Limited by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Tribunal initiated the CIRP on 24.08.2023. Sarvesh Kashyap was appointed as the Interim Resolution Professional (IRP). The IRP made public announcements as per regulations. No Committee of Creditors (CoC) was constituted due to non-receipt of claims. The Operational Creditor and Corporate Debtor entered into a Memorandum of Understanding (MOU) on 05.10.2023 to settle their dues and withdraw the CIRP application. The Corporate Debtor paid Rs. 2,50,000 towards CIRP expenses. The IRP filed an application under Section 12A of the
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Company Petition No.…
The Tribunal initiated the Corporate…
The case involves an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking to withdraw the Corporate Insolvency Resolution Process (CIRP) initiated against Brijbihari Metallics Private Limited. The CIRP was initially triggered by Seven Star Steels Limited, an operational creditor, under Section 9 of the IBC. The Tribunal had initiated the CIRP against the corporate debtor on 24.08.2023. The IRP had also made public announcements as required by regulations.
Seven Star Steels Limited, an operational creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against Brijbihari Metallics Private Limited by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Tribunal initiated the CIRP on 24.08.2023. Sarvesh Kashyap was appointed as the Interim Resolution Professional (IRP). The IRP made public announcements as per regulations. No Committee of Creditors (CoC) was constituted due to non-receipt of claims. The Operational Creditor and Corporate Debtor entered into a Memorandum of Understanding (MOU) on 05.10.2023 to settle their dues and withdraw the CIRP application. The Corporate Debtor paid Rs. 2,50,000 towards CIRP expenses. The IRP filed an application under Section 12A of the
…Company Petition No.…
The Tribunal initiated the Corporate…