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's counsel was present, but no one appeared for the Financial Creditor. The Court Officer's report indicated that nothing had been filed after 03.03.2022.
Edelweiss Asset Reconstruction Company Pvt. Ltd. filed an application/petition against Jamvant Estates Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The Resolution Professional submitted a proposal for withdrawal of the main petition, CP No. IB-170(PB)/2019, in Form FA. The Special Bench ordered notice to be served on the Financial Creditor. Mr. Ashutosh Misra, representing the Financial Creditor, filed an application for withdrawal of CIRP under Regulation 30A of the IBBI Regulations, accompanied by a Bank Guarantee. The Court Officer's report indicated that nothing had been filed after 03.03.2022. The Financial Creditor did not appear in court. The court allowed the withdrawal application and disposed of the main petition.
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Mr. Ashutosh Misra, representing the…
The matter was last heard by the Special…
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's counsel was present, but no one appeared for the Financial Creditor. The Court Officer's report indicated that nothing had been filed after 03.03.2022.
Edelweiss Asset Reconstruction Company Pvt. Ltd. filed an application/petition against Jamvant Estates Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The Resolution Professional submitted a proposal for withdrawal of the main petition, CP No. IB-170(PB)/2019, in Form FA. The Special Bench ordered notice to be served on the Financial Creditor. Mr. Ashutosh Misra, representing the Financial Creditor, filed an application for withdrawal of CIRP under Regulation 30A of the IBBI Regulations, accompanied by a Bank Guarantee. The Court Officer's report indicated that nothing had been filed after 03.03.2022. The Financial Creditor did not appear in court. The court allowed the withdrawal application and disposed of the main petition.
Mr. Ashutosh Misra, representing the…
The matter was last heard by the Special…