The case involves an application (I.A. 3827 of 2022) filed by the Interim Resolution Professional (IRP), Ms. Geeta Toraskar, under Section 12A r.w. Regulation 30A, seeking withdrawal of the main Company Petition No. C.P. (IB)/500(MB)2020. This withdrawal is sought due to a settlement reached between the Operational Creditor/Petitioner and the Corporate Debtor. The Operational Creditor, Supreme & Company Private Limited, has received Rs. 19,00,000/- from the Corporate Debtor, Overseas Infrastructure Alliance (India) Pvt. Ltd., as a full and final settlement.
The Operational Creditor, Supreme & Company Private Limited, initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Overseas Infrastructure Alliance (India) Pvt. Ltd. Subsequently, a settlement was reached between the parties. As part of the settlement, the Corporate Debtor paid Rs. 19,00,000/- to the Operational Creditor as a full and final settlement. Following the settlement, the IRP, Ms. Geeta Toraskar, filed an application (I.A. 3827 of 2022) under Section 12A r.w. Regulation 30A seeking withdrawal of the CIRP. The Operational Creditor also submitted Form-FA dated 12.12.2022 for withdrawal of CIRP process. The expenses incurred by the IRP, including professional fees, were already paid. The relevance of these facts lies in
…Sign in to view the parties.
The Operational…
CIRP order pa…
The case involves an application (I.A. 3827 of 2022) filed by the Interim Resolution Professional (IRP), Ms. Geeta Toraskar, under Section 12A r.w. Regulation 30A, seeking withdrawal of the main Company Petition No. C.P. (IB)/500(MB)2020. This withdrawal is sought due to a settlement reached between the Operational Creditor/Petitioner and the Corporate Debtor. The Operational Creditor, Supreme & Company Private Limited, has received Rs. 19,00,000/- from the Corporate Debtor, Overseas Infrastructure Alliance (India) Pvt. Ltd., as a full and final settlement.
The Operational Creditor, Supreme & Company Private Limited, initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Overseas Infrastructure Alliance (India) Pvt. Ltd. Subsequently, a settlement was reached between the parties. As part of the settlement, the Corporate Debtor paid Rs. 19,00,000/- to the Operational Creditor as a full and final settlement. Following the settlement, the IRP, Ms. Geeta Toraskar, filed an application (I.A. 3827 of 2022) under Section 12A r.w. Regulation 30A seeking withdrawal of the CIRP. The Operational Creditor also submitted Form-FA dated 12.12.2022 for withdrawal of CIRP process. The expenses incurred by the IRP, including professional fees, were already paid. The relevance of these facts lies in
…The Operational…
CIRP order pa…