The case involves an application (IA No.422/2022) filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) and Rule 11 of the NCLT Rules, 2016, along with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. IA No.402/2022 is an application to place on record the Form-2 submitted by the RP and vakalatnama filed on behalf of IRP. IA No.404/2022 is also related to the same CIRP.
The Corporate Insolvency Resolution Process (CIRP) was initiated against C.S. Infraconstruction Ltd. An application, IA No.422/2022, was filed under Section 12A of the IBC and related regulations, seeking withdrawal of the CIRP. The Insolvency Resolution Professional (IRP) stated that the parties had reached a settlement, documented in a settlement agreement dated November 12, 2022, which is also the date of Form-FA. The Committee of Creditors (CoC) had not been constituted. IA No.402/2022 is an application to place on record the Form-2 submitted by the RP and vakalatnama filed on behalf of IRP. IA No.404/2022 is also related to the same CIRP. The relevance of these facts lies in the court's decision to allow the withdrawal of the CIRP based on the settlement,
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Attendance-cum-order…
The settlement agreement between the parties is…
The case involves an application (IA No.422/2022) filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) and Rule 11 of the NCLT Rules, 2016, along with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. IA No.402/2022 is an application to place on record the Form-2 submitted by the RP and vakalatnama filed on behalf of IRP. IA No.404/2022 is also related to the same CIRP.
The Corporate Insolvency Resolution Process (CIRP) was initiated against C.S. Infraconstruction Ltd. An application, IA No.422/2022, was filed under Section 12A of the IBC and related regulations, seeking withdrawal of the CIRP. The Insolvency Resolution Professional (IRP) stated that the parties had reached a settlement, documented in a settlement agreement dated November 12, 2022, which is also the date of Form-FA. The Committee of Creditors (CoC) had not been constituted. IA No.402/2022 is an application to place on record the Form-2 submitted by the RP and vakalatnama filed on behalf of IRP. IA No.404/2022 is also related to the same CIRP. The relevance of these facts lies in the court's decision to allow the withdrawal of the CIRP based on the settlement,
…Attendance-cum-order…
The settlement agreement between the parties is…