The case involves an application (I.A. 1859/2020) filed by the Resolution Professional (RP), Mr. Anish Gupta, under section 12A of the Insolvency and Bankruptcy Code (IBC) for withdrawing the main Company Petition 1859/2020. This withdrawal is sought due to a settlement reached between the Operational Creditor and the Corporate Debtor. The Operational Creditor and Corporate Debtor amicably settled the matter by entering into consent terms dated 2022-03-16, involving a payment of Rs. 29,40,000/-.
The Resolution Professional, Mr. Anish Gupta, filed an application (I.A. 1859/2020) under Section 12A of the IBC to withdraw the main Company Petition 1859/2020. This action was prompted by a settlement between Masters Management Consultants (India) Pvt Ltd, the Operational Creditor, and Lotus Inn Pvt Ltd, the Corporate Debtor. The settlement involved the Corporate Debtor paying Rs. 29,40,000/- to the Operational Creditor, as per consent terms dated 2022-03-16. The Operational Creditor also submitted Form FA dated 2020-09-23 for withdrawal of the CIRP process. No Committee of Creditors (COC) meeting had been constituted. The NCLT considered the submissions and material on record before allowing the withdrawal application and disposing of the main Company Petition. The
…Sign in to view the parties.
CIRP admission order…
Operational Creditor…
The case involves an application (I.A. 1859/2020) filed by the Resolution Professional (RP), Mr. Anish Gupta, under section 12A of the Insolvency and Bankruptcy Code (IBC) for withdrawing the main Company Petition 1859/2020. This withdrawal is sought due to a settlement reached between the Operational Creditor and the Corporate Debtor. The Operational Creditor and Corporate Debtor amicably settled the matter by entering into consent terms dated 2022-03-16, involving a payment of Rs. 29,40,000/-.
The Resolution Professional, Mr. Anish Gupta, filed an application (I.A. 1859/2020) under Section 12A of the IBC to withdraw the main Company Petition 1859/2020. This action was prompted by a settlement between Masters Management Consultants (India) Pvt Ltd, the Operational Creditor, and Lotus Inn Pvt Ltd, the Corporate Debtor. The settlement involved the Corporate Debtor paying Rs. 29,40,000/- to the Operational Creditor, as per consent terms dated 2022-03-16. The Operational Creditor also submitted Form FA dated 2020-09-23 for withdrawal of the CIRP process. No Committee of Creditors (COC) meeting had been constituted. The NCLT considered the submissions and material on record before allowing the withdrawal application and disposing of the main Company Petition. The
…CIRP admission order…
Operational Creditor…