The case involves an application (IA 4548/2023) filed by the Debenture holders under Section 12A read with Regulations, 30A for withdrawal of the CIRP regulation through withdrawing the CP before constitution of COC. Another application filed by the Debenture Trustee is pending before Court Room No. V of this Tribunal in CP 860/2020, which was disposed of with liberty to revive the same as this CP is already admitted.
The Debenture holders filed an application (IA 4548/2023) under Section 12A and Regulations 30A to withdraw the Corporate Insolvency Resolution Process (CIRP) before the constitution of the Committee of Creditors (COC). Another application by the Debenture Trustee was pending in CP 860/2020, which had been disposed of but with the liberty to revive it. The application IA 4548/2023 evidenced separate applications to all five financial creditors. The court heard the Interim Resolution Professional (IRP) and the Counsel for the Corporate Debtor (CD). The court allowed the application for withdrawal. IA 4584 was allowed and disposed of, and CP 1306/2022 was also disposed of, along with any related interlocutory applications.
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Order sheet of hearing…
The case involves an application (IA 4548/2023) filed by the Debenture holders under Section 12A read with Regulations, 30A for withdrawal of the CIRP regulation through withdrawing the CP before constitution of COC. Another application filed by the Debenture Trustee is pending before Court Room No. V of this Tribunal in CP 860/2020, which was disposed of with liberty to revive the same as this CP is already admitted.
The Debenture holders filed an application (IA 4548/2023) under Section 12A and Regulations 30A to withdraw the Corporate Insolvency Resolution Process (CIRP) before the constitution of the Committee of Creditors (COC). Another application by the Debenture Trustee was pending in CP 860/2020, which had been disposed of but with the liberty to revive it. The application IA 4548/2023 evidenced separate applications to all five financial creditors. The court heard the Interim Resolution Professional (IRP) and the Counsel for the Corporate Debtor (CD). The court allowed the application for withdrawal. IA 4584 was allowed and disposed of, and CP 1306/2022 was also disposed of, along with any related interlocutory applications.
Order sheet of hearing…