The case involves an application filed under Section 12-A of the Insolvency and Bankruptcy Code (IBC) for withdrawal of the Corporate Insolvency Resolution Process (CIRP). The Interim Resolution Professional (IRP) had not issued a public notice or mentioned the pendency of claims against the Corporate Debtor. The Adjudicating Authority (AA) is considering allowing the withdrawal application but has raised concerns about the IRP's conduct.
M/s. Megha Granules Pvt Ltd initiated CIRP against M/s. Fertis India (P) Ltd. An application was filed under Section 12-A of the IBC for withdrawal of the CIRP. The IRP had not issued a public notice or mentioned the pendency of claims against the Corporate Debtor. Form FA was filed along with the 12A application, indicating a settlement between the parties. The Adjudicating Authority is considering the withdrawal application. The order of moratorium dated 30.12.2021 shall cease to have effect.
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Order of morato…
Hearing held…
The case involves an application filed under Section 12-A of the Insolvency and Bankruptcy Code (IBC) for withdrawal of the Corporate Insolvency Resolution Process (CIRP). The Interim Resolution Professional (IRP) had not issued a public notice or mentioned the pendency of claims against the Corporate Debtor. The Adjudicating Authority (AA) is considering allowing the withdrawal application but has raised concerns about the IRP's conduct.
M/s. Megha Granules Pvt Ltd initiated CIRP against M/s. Fertis India (P) Ltd. An application was filed under Section 12-A of the IBC for withdrawal of the CIRP. The IRP had not issued a public notice or mentioned the pendency of claims against the Corporate Debtor. Form FA was filed along with the 12A application, indicating a settlement between the parties. The Adjudicating Authority is considering the withdrawal application. The order of moratorium dated 30.12.2021 shall cease to have effect.
Order of morato…
Hearing held…