The case involves an application (I.A. 1836/2021) filed by the Corporate Debtor, Gopinath Engineering Co Pvt Ltd, seeking the withdrawal of the Corporate Insolvency Resolution Process (CIRP) order dated 10.08.2021, which was passed against them. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of the NCLT Rules, 2016. The Corporate Debtor argued that they had already paid a significant portion of the claimed amount to the Operational Creditor, Totale Global Pvt Ltd, before the CIRP order was passed and were willing to pay the remaining balance. The Corporate Debtor also contended that they were not adequately represented during the hearing that led to the CIRP order. The NCLT initially directed the
…Gopinath Engineering Co Pvt Ltd (Corporate Debtor) was facing a CIRP based on a petition filed by Totale Global Pvt Ltd (Operational Creditor). The CIRP was initiated vide order dated 10.08.2021. Before the CIRP order, the Corporate Debtor had already paid Rs. 20 lacs out of the total claim of Rs. 41,30,000 to the Operational Creditor. The Corporate Debtor intended to pay the balance amount of Rs. 21,30,000 within 10 days from 07.08.2021. The Corporate Debtor claimed they were not adequately represented during the hearing on 27.07.2021 that led to the CIRP order. The Corporate Debtor is a solvent company with over 200 employees and an ongoing service contract with HPCL worth Rs. 13.35 Crore. The Corporate Debtor filed I.A. 1836/2021 seeking withdrawal of the CIRP
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CIRP order…
NCLAT directed the IRP…
The case involves an application (I.A. 1836/2021) filed by the Corporate Debtor, Gopinath Engineering Co Pvt Ltd, seeking the withdrawal of the Corporate Insolvency Resolution Process (CIRP) order dated 10.08.2021, which was passed against them. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of the NCLT Rules, 2016. The Corporate Debtor argued that they had already paid a significant portion of the claimed amount to the Operational Creditor, Totale Global Pvt Ltd, before the CIRP order was passed and were willing to pay the remaining balance. The Corporate Debtor also contended that they were not adequately represented during the hearing that led to the CIRP order. The NCLT initially directed the
…Gopinath Engineering Co Pvt Ltd (Corporate Debtor) was facing a CIRP based on a petition filed by Totale Global Pvt Ltd (Operational Creditor). The CIRP was initiated vide order dated 10.08.2021. Before the CIRP order, the Corporate Debtor had already paid Rs. 20 lacs out of the total claim of Rs. 41,30,000 to the Operational Creditor. The Corporate Debtor intended to pay the balance amount of Rs. 21,30,000 within 10 days from 07.08.2021. The Corporate Debtor claimed they were not adequately represented during the hearing on 27.07.2021 that led to the CIRP order. The Corporate Debtor is a solvent company with over 200 employees and an ongoing service contract with HPCL worth Rs. 13.35 Crore. The Corporate Debtor filed I.A. 1836/2021 seeking withdrawal of the CIRP
…CIRP order…
NCLAT directed the IRP…