The case involves an application (IA(I.B.C)/287(MB)2025) filed under section 12A of the Insolvency and Bankruptcy Code (IBC) for the withdrawal of the main Corporate Insolvency Resolution Process (CIRP) initiated by the Applicant/IRP in CP(IB)/131(MB)/2017. The total claim involved in the CP is Rs. 11,56,031.27, and the matter has been settled between the parties for Rs. 6.38 lakh.
Vinar Systems Pvt Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Imax Electrotek Pvt Ltd. The total claim involved in the CIRP was Rs. 11,56,031.27. Subsequently, the parties reached a settlement for Rs. 6.38 lakh. The Resolution Professional (RP) submitted that the CIRP costs were fully paid and Form FA was filed. Based on these submissions, an application (IA(I.B.C)/287(MB)2025) was filed under Section 12A of the IBC for withdrawal of the main CP (CP(IB)/131(MB)/2017). The court then considered the application for withdrawal.
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CP(IB)/131(MB)/2017 was…
Order sheet of…
The case involves an application (IA(I.B.C)/287(MB)2025) filed under section 12A of the Insolvency and Bankruptcy Code (IBC) for the withdrawal of the main Corporate Insolvency Resolution Process (CIRP) initiated by the Applicant/IRP in CP(IB)/131(MB)/2017. The total claim involved in the CP is Rs. 11,56,031.27, and the matter has been settled between the parties for Rs. 6.38 lakh.
Vinar Systems Pvt Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Imax Electrotek Pvt Ltd. The total claim involved in the CIRP was Rs. 11,56,031.27. Subsequently, the parties reached a settlement for Rs. 6.38 lakh. The Resolution Professional (RP) submitted that the CIRP costs were fully paid and Form FA was filed. Based on these submissions, an application (IA(I.B.C)/287(MB)2025) was filed under Section 12A of the IBC for withdrawal of the main CP (CP(IB)/131(MB)/2017). The court then considered the application for withdrawal.
CP(IB)/131(MB)/2017 was…
Order sheet of…