The case involves an application filed by the Resolution Professional under Section 12(A) of the IBC, read with Regulation 30(A) of the IBBI (IRP for CP) Regulations, 2016, seeking to withdraw a Section 9 petition. The Adjudicating Authority had previously admitted the Section 9 petition (IB-513/ND/2020) on 2021-10-12, and a Resolution Professional was appointed. The Resolution Professional admitted a claim of Rs. 1,59,975/- for the sole Operational Creditor who filed the Section 9 petition. The Section 9 petition was filed prior to the amendment in Section 4 of the IBC regarding the threshold for filing such petitions.
M/s. Salasar Builders filed a Section 9 petition under the IBC against North Rajasthan Infracon Pvt. Ltd. The Adjudicating Authority admitted the petition (IB-513/ND/2020) on 2021-10-12, appointing a Resolution Professional. The Resolution Professional admitted a claim of Rs. 1,59,975/- for the sole Operational Creditor. The Section 9 petition was filed before amendments to Section 4 of the IBC regarding the threshold for filing such petitions. The Committee of Creditors (CoC) consisted of only one Operational Creditor. In a meeting on 2024-03-30, the CoC resolved to withdraw the petition under Section 12(A) of the IBC. The Operational Creditor no longer wanted to continue with the CIRP, and the Resolution Professional waived their fees. The admitted claim was
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The Adjudicating Authority admitted the Section…
The Committee of Creditors (CoC) resolved with…
The case involves an application filed by the Resolution Professional under Section 12(A) of the IBC, read with Regulation 30(A) of the IBBI (IRP for CP) Regulations, 2016, seeking to withdraw a Section 9 petition. The Adjudicating Authority had previously admitted the Section 9 petition (IB-513/ND/2020) on 2021-10-12, and a Resolution Professional was appointed. The Resolution Professional admitted a claim of Rs. 1,59,975/- for the sole Operational Creditor who filed the Section 9 petition. The Section 9 petition was filed prior to the amendment in Section 4 of the IBC regarding the threshold for filing such petitions.
M/s. Salasar Builders filed a Section 9 petition under the IBC against North Rajasthan Infracon Pvt. Ltd. The Adjudicating Authority admitted the petition (IB-513/ND/2020) on 2021-10-12, appointing a Resolution Professional. The Resolution Professional admitted a claim of Rs. 1,59,975/- for the sole Operational Creditor. The Section 9 petition was filed before amendments to Section 4 of the IBC regarding the threshold for filing such petitions. The Committee of Creditors (CoC) consisted of only one Operational Creditor. In a meeting on 2024-03-30, the CoC resolved to withdraw the petition under Section 12(A) of the IBC. The Operational Creditor no longer wanted to continue with the CIRP, and the Resolution Professional waived their fees. The admitted claim was
…The Adjudicating Authority admitted the Section…
The Committee of Creditors (CoC) resolved with…