The case pertains to an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the withdrawal of the main Corporate Insolvency Resolution Process (CIRP) on the grounds of settlement between the parties.
Parthdye Chem Pvt Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Clinch Silicones Pvt Ltd under Section 9 of the IBC. The Interim Resolution Professional (IRP) filed an application (IA/140(AHM)2023) under Section 12A of the IBC, 2016, seeking withdrawal of the main CIRP due to a settlement reached between Parthdye Chem Pvt Ltd and Clinch Silicones Pvt Ltd. The court heard the IRP's counsel and, acknowledging the settlement, permitted the withdrawal of the CIRP. Consequently, the main CIRP was withdrawn and disposed of, along with the application IA/140(AHM)2023.
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Corporate Insolvency…
IRP filed IA/140(AHM)2023 under Section 12A…
The case pertains to an application filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the withdrawal of the main Corporate Insolvency Resolution Process (CIRP) on the grounds of settlement between the parties.
Parthdye Chem Pvt Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Clinch Silicones Pvt Ltd under Section 9 of the IBC. The Interim Resolution Professional (IRP) filed an application (IA/140(AHM)2023) under Section 12A of the IBC, 2016, seeking withdrawal of the main CIRP due to a settlement reached between Parthdye Chem Pvt Ltd and Clinch Silicones Pvt Ltd. The court heard the IRP's counsel and, acknowledging the settlement, permitted the withdrawal of the CIRP. Consequently, the main CIRP was withdrawn and disposed of, along with the application IA/140(AHM)2023.
Corporate Insolvency…
IRP filed IA/140(AHM)2023 under Section 12A…