The case involves an application (IA No. 874/2023) filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) read with Regulation 30A of the IBBI regulations by the Interim Resolution Professional (IRP). The Corporate Insolvency Resolution Process (CIRP) was initiated on 2023-03-22, but the parties settled the matter on 2023-03-25. The settlement agreement was placed on record. The Committee of Creditors (CoC) was not constituted, and no publication was made. The IRP stated that the CIRP costs have been paid.
The CIRP against Ecogreen Energy Gwalior Pvt. Ltd. was initiated on 2023-03-22. However, the parties involved reached a settlement shortly after, on 2023-03-25. An application (IA No. 874/2023) was filed under Section 12A of the IBC for withdrawal of the CIRP based on this settlement. No Committee of Creditors (CoC) had been formed, and no public announcement had been made. The IRP confirmed that the costs associated with the CIRP had been paid. The settlement agreement and Form FA were placed on record. The key fact is the settlement between the parties shortly after the CIRP initiation, leading to the withdrawal application.
Sign in to view the parties.
Corporate Insolvency…
Parties settl…
The case involves an application (IA No. 874/2023) filed under Section 12A of the Insolvency and Bankruptcy Code (IBC) read with Regulation 30A of the IBBI regulations by the Interim Resolution Professional (IRP). The Corporate Insolvency Resolution Process (CIRP) was initiated on 2023-03-22, but the parties settled the matter on 2023-03-25. The settlement agreement was placed on record. The Committee of Creditors (CoC) was not constituted, and no publication was made. The IRP stated that the CIRP costs have been paid.
The CIRP against Ecogreen Energy Gwalior Pvt. Ltd. was initiated on 2023-03-22. However, the parties involved reached a settlement shortly after, on 2023-03-25. An application (IA No. 874/2023) was filed under Section 12A of the IBC for withdrawal of the CIRP based on this settlement. No Committee of Creditors (CoC) had been formed, and no public announcement had been made. The IRP confirmed that the costs associated with the CIRP had been paid. The settlement agreement and Form FA were placed on record. The key fact is the settlement between the parties shortly after the CIRP initiation, leading to the withdrawal application.
Corporate Insolvency…
Parties settl…