The case involves an application (I.A. 2814/2023) filed for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) order dated 06.06.2023, which was passed against the Corporate Debtor. The Corporate Debtor and Operational Creditor entered into consent terms dated 27.06.2023, even before the constitution of the Committee of Creditors (COC). The applicant also enclosed Form FA dated 27.06.2023 for withdrawal of the CIRP proceedings.
AB & Co Global Private Limited initiated CIRP against Cowtown Infotech Services Private Limited. An I.A. 2814/2023 was filed by Mr. Raj Kumar Dad, the IRP, under Section 12A of the Insolvency and Bankruptcy Code, seeking withdrawal of the CIRP order dated 06.06.2023. The Corporate Debtor and Operational Creditor had entered into consent terms on 27.06.2023, before the COC was constituted. The applicant submitted that COC approval was not required. Form FA dated 27.06.2023 was enclosed for withdrawal of the CIRP proceedings. The court found it appropriate to allow the application.
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CIRP order was…
Corporate Debtor and…
The case involves an application (I.A. 2814/2023) filed for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) order dated 06.06.2023, which was passed against the Corporate Debtor. The Corporate Debtor and Operational Creditor entered into consent terms dated 27.06.2023, even before the constitution of the Committee of Creditors (COC). The applicant also enclosed Form FA dated 27.06.2023 for withdrawal of the CIRP proceedings.
AB & Co Global Private Limited initiated CIRP against Cowtown Infotech Services Private Limited. An I.A. 2814/2023 was filed by Mr. Raj Kumar Dad, the IRP, under Section 12A of the Insolvency and Bankruptcy Code, seeking withdrawal of the CIRP order dated 06.06.2023. The Corporate Debtor and Operational Creditor had entered into consent terms on 27.06.2023, before the COC was constituted. The applicant submitted that COC approval was not required. Form FA dated 27.06.2023 was enclosed for withdrawal of the CIRP proceedings. The court found it appropriate to allow the application.
CIRP order was…
Corporate Debtor and…