The case involves an application (IA 1600/2025) filed by the Interim Resolution Professional (IRP) under Section 12 A of the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor (CD) was admitted into Corporate Insolvency Resolution Process (CIRP) on 2025-03-24 for a total operational debt of Rs. 3.00 Cr, comprising of Rs. 2.68 Cr as principal. The applicant's counsel submits that on the same day, Rs. 268,19,688/- was paid, and the operational creditor acknowledged this payment via email. A confirmation email stated that full payment of Rs. 2,68,19,689/- was received and credited, and the operational creditor agreed to withdraw the application. The IRP filed the application with Form FA as mandated under Regulations 30(A) of the IBBI Regulations.
Genesys International Corporation Limited was facing CIRP initiated by Innowave IT Infrastructures Limited for an operational debt of Rs. 3.00 Cr, with Rs. 2.68 Cr being the principal amount. The CIRP was initiated on 2025-03-24. However, on the same day, Genesys International Corporation Limited paid Rs. 268,19,688/- to Innowave IT Infrastructures Limited, which was acknowledged via email. A confirmation email also stated that the full payment of Rs. 2,68,19,689/- was received, and Innowave IT Infrastructures Limited agreed to withdraw the CIRP application. The Interim Resolution Professional (IRP) then filed an application (IA 1600/2025) under Section 12A of the IBC, along with Form FA as mandated by IBBI Regulations, to withdraw the CIRP. No Committee of Creditors
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Corporate Debtor (CD)…
Rs. 268,19,688/- paid…
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The case involves an application (IA 1600/2025) filed by the Interim Resolution Professional (IRP) under Section 12 A of the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor (CD) was admitted into Corporate Insolvency Resolution Process (CIRP) on 2025-03-24 for a total operational debt of Rs. 3.00 Cr, comprising of Rs. 2.68 Cr as principal. The applicant's counsel submits that on the same day, Rs. 268,19,688/- was paid, and the operational creditor acknowledged this payment via email. A confirmation email stated that full payment of Rs. 2,68,19,689/- was received and credited, and the operational creditor agreed to withdraw the application. The IRP filed the application with Form FA as mandated under Regulations 30(A) of the IBBI Regulations.
Genesys International Corporation Limited was facing CIRP initiated by Innowave IT Infrastructures Limited for an operational debt of Rs. 3.00 Cr, with Rs. 2.68 Cr being the principal amount. The CIRP was initiated on 2025-03-24. However, on the same day, Genesys International Corporation Limited paid Rs. 268,19,688/- to Innowave IT Infrastructures Limited, which was acknowledged via email. A confirmation email also stated that the full payment of Rs. 2,68,19,689/- was received, and Innowave IT Infrastructures Limited agreed to withdraw the CIRP application. The Interim Resolution Professional (IRP) then filed an application (IA 1600/2025) under Section 12A of the IBC, along with Form FA as mandated by IBBI Regulations, to withdraw the CIRP. No Committee of Creditors
…Corporate Debtor (CD)…
Rs. 268,19,688/- paid…
Sign in to view related legal provisions.