The case involves a petition filed by Piramal Capital and Housing Finance Limited against Dhammanagi Developerss Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated, and a Resolution Professional (RP) was appointed. However, the parties decided to settle the matter amicably, leading to a settlement agreement. The CoC approved the withdrawal of the application.
Piramal Capital and Housing Finance Limited initiated CIRP against Dhammanagi Developerss Pvt. Ltd. The CIRP was admitted on 2022-04-05. A Resolution Professional (RP), Ms. Devika Sathyanarayana, was appointed. The Suspended Board of Directors and the CoC decided to settle the matter amicably. The Erstwhile Directors agreed to settle the dues in three installments. The Suspended Board of Directors paid the balance of the estimated CIRP expenses. The CoC unanimously approved the withdrawal of the application in its 8th meeting dated 2022-12-31. The RP filed I.A.No.32/2023 seeking withdrawal of the CIRP application. The RP also filed I.A.No.36/2023 and I.A.No.37/2023 seeking to take on record the 17th and 16th Progress Reports for the periods 2022-12-02 to 2022-12-15 and
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The Company Petition…
The CoC unanimously approved the resolution…
The case involves a petition filed by Piramal Capital and Housing Finance Limited against Dhammanagi Developerss Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated, and a Resolution Professional (RP) was appointed. However, the parties decided to settle the matter amicably, leading to a settlement agreement. The CoC approved the withdrawal of the application.
Piramal Capital and Housing Finance Limited initiated CIRP against Dhammanagi Developerss Pvt. Ltd. The CIRP was admitted on 2022-04-05. A Resolution Professional (RP), Ms. Devika Sathyanarayana, was appointed. The Suspended Board of Directors and the CoC decided to settle the matter amicably. The Erstwhile Directors agreed to settle the dues in three installments. The Suspended Board of Directors paid the balance of the estimated CIRP expenses. The CoC unanimously approved the withdrawal of the application in its 8th meeting dated 2022-12-31. The RP filed I.A.No.32/2023 seeking withdrawal of the CIRP application. The RP also filed I.A.No.36/2023 and I.A.No.37/2023 seeking to take on record the 17th and 16th Progress Reports for the periods 2022-12-02 to 2022-12-15 and
…The Company Petition…
The CoC unanimously approved the resolution…