The matter pertains to an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The main petition, CP No. IB-170(PB)/2019, was filed, and subsequently, a proposal for withdrawal was submitted in Form FA. The Special Bench had ordered notice to be served on the Financial Creditor. The Resolution Professional (RP) was present during the hearing, but there was no appearance on behalf of the Financial Creditor.
Edelweiss Asset Reconstruction Company Pvt. Ltd. filed an application/petition against Jamvant Estates Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP). The main petition was CP No. IB-170(PB)/2019. Subsequently, an application for withdrawal of the CIRP was filed in Form FA, accompanied by a Bank Guarantee, as per Regulation 30A of the IBBI Regulations. Mr. Ashutosh Misra, representing the Financial Creditor, authorized the withdrawal application. The Resolution Professional was present during the hearing, but the Financial Creditor did not appear. The court considered the withdrawal application and the accompanying Bank Guarantee.
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Mr. Ashutosh Misra, representing the…
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The matter pertains to an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The main petition, CP No. IB-170(PB)/2019, was filed, and subsequently, a proposal for withdrawal was submitted in Form FA. The Special Bench had ordered notice to be served on the Financial Creditor. The Resolution Professional (RP) was present during the hearing, but there was no appearance on behalf of the Financial Creditor.
Edelweiss Asset Reconstruction Company Pvt. Ltd. filed an application/petition against Jamvant Estates Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP). The main petition was CP No. IB-170(PB)/2019. Subsequently, an application for withdrawal of the CIRP was filed in Form FA, accompanied by a Bank Guarantee, as per Regulation 30A of the IBBI Regulations. Mr. Ashutosh Misra, representing the Financial Creditor, authorized the withdrawal application. The Resolution Professional was present during the hearing, but the Financial Creditor did not appear. The court considered the withdrawal application and the accompanying Bank Guarantee.
Mr. Ashutosh Misra, representing the…
The matter was heard by the Special Bench, and…
Sign in to view related legal provisions.