The case involves an application (IA/807/ND/2022) for withdrawal of corporate insolvency resolution process (CIRP) proceedings under Section 12A of the Insolvency and Bankruptcy Code (IBC). The Interim Resolution Professional (IRP) moved the application, stating that the matter has been settled with the sole Financial Creditor, and the Committee of Creditors (CoC) has approved the withdrawal with 100% voting. The case also involves other IAs (IA/1957/ND/2020 and IA/4318/ND/2021), which have become infructuous due to the settlement.
Emperos Infrastructure Pvt Ltd initiated CIRP against Earthcon Infrastructure Pvt Ltd. The IRP filed an application (IA/807/ND/2022) to withdraw the CIRP proceedings under Section 12A of the IBC. The reason for the withdrawal was a settlement between the parties, approved by the sole Financial Creditor in the CoC with 100% voting. The IRP confirmed full payment and no grievances. Other IAs (IA/1957/ND/2020 & IA/4318/ND/2021) were also pending but became irrelevant due to the settlement and withdrawal application.
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Emperos Infrastructure…
The IRP filed IA/807/ND/2022 for withdrawal of…
The case involves an application (IA/807/ND/2022) for withdrawal of corporate insolvency resolution process (CIRP) proceedings under Section 12A of the Insolvency and Bankruptcy Code (IBC). The Interim Resolution Professional (IRP) moved the application, stating that the matter has been settled with the sole Financial Creditor, and the Committee of Creditors (CoC) has approved the withdrawal with 100% voting. The case also involves other IAs (IA/1957/ND/2020 and IA/4318/ND/2021), which have become infructuous due to the settlement.
Emperos Infrastructure Pvt Ltd initiated CIRP against Earthcon Infrastructure Pvt Ltd. The IRP filed an application (IA/807/ND/2022) to withdraw the CIRP proceedings under Section 12A of the IBC. The reason for the withdrawal was a settlement between the parties, approved by the sole Financial Creditor in the CoC with 100% voting. The IRP confirmed full payment and no grievances. Other IAs (IA/1957/ND/2020 & IA/4318/ND/2021) were also pending but became irrelevant due to the settlement and withdrawal application.
Emperos Infrastructure…
The IRP filed IA/807/ND/2022 for withdrawal of…