The case involves an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against Fontana Impex Private Limited. The CIRP was initiated based on an application filed by M/s. Iapetus Shipping, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application CP(IB)/41/KOB/2021 was admitted by the Tribunal on January 7, 2022. Mohanan T.S was appointed as the Interim Resolution Professional (IRP).
M/s. Iapetus Shipping, an operational creditor, filed an application CP(IB)/41/KOB/2021 under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Fontana Impex Private Limited (Corporate Debtor). The application was admitted on January 7, 2022, initiating the Corporate Insolvency Resolution Process (CIRP). Mohanan T.S was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement on January 14, 2022, setting the due date for submission of claims as January 26, 2022. No claims were received from any secured or unsecured creditors by the due date, and the Committee of Creditors (CoC) was not constituted. Before the CoC could be formed, the Operational Creditor and the Corporate Debtor reached a settlement on January 22, 2022.
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Tribunal admitted the application…
IRP made public…
The case involves an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against Fontana Impex Private Limited. The CIRP was initiated based on an application filed by M/s. Iapetus Shipping, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application CP(IB)/41/KOB/2021 was admitted by the Tribunal on January 7, 2022. Mohanan T.S was appointed as the Interim Resolution Professional (IRP).
M/s. Iapetus Shipping, an operational creditor, filed an application CP(IB)/41/KOB/2021 under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Fontana Impex Private Limited (Corporate Debtor). The application was admitted on January 7, 2022, initiating the Corporate Insolvency Resolution Process (CIRP). Mohanan T.S was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement on January 14, 2022, setting the due date for submission of claims as January 26, 2022. No claims were received from any secured or unsecured creditors by the due date, and the Committee of Creditors (CoC) was not constituted. Before the CoC could be formed, the Operational Creditor and the Corporate Debtor reached a settlement on January 22, 2022.
…Tribunal admitted the application…
IRP made public…