The case involves an application for withdrawal of a Company Petition under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016. The Company Petition, bearing C.P. (IB)/1011(MB)2022, was initially filed under Section 7 of the IBC and admitted on 28.04.2023, leading to the commencement of the Corporate Insolvency Resolution Process (CIRP) and the declaration of a moratorium. An Interim Resolution Professional (IRP) was appointed for the Corporate Debtor, who then made a public announcement inviting claims. The Committee of Creditors (CoC) was constituted, and a report was submitted.
Idbi Bank Limited initiated a Corporate Insolvency Resolution Process (CIRP) against Process Construction And Technical Services Private Limited by filing a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was admitted on 28.04.2023, leading to the commencement of CIRP and imposition of a moratorium. An Interim Resolution Professional (IRP) was appointed, who made a public announcement for claims. Subsequently, an application (IA-1183(MB)2024) was filed seeking withdrawal of the CIRP under Section 12A of the IBC. The applicant stated that they received Form FA on 12.03.2024, and the Committee of Creditors (CoC) approved the withdrawal with a 100% vote in its meeting held on 13.03.2024. The applicant also submitted that the RP fee
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The Company Petition filed under Section 7 of…
The appointed Interim Resolution Professional…
The case involves an application for withdrawal of a Company Petition under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016. The Company Petition, bearing C.P. (IB)/1011(MB)2022, was initially filed under Section 7 of the IBC and admitted on 28.04.2023, leading to the commencement of the Corporate Insolvency Resolution Process (CIRP) and the declaration of a moratorium. An Interim Resolution Professional (IRP) was appointed for the Corporate Debtor, who then made a public announcement inviting claims. The Committee of Creditors (CoC) was constituted, and a report was submitted.
Idbi Bank Limited initiated a Corporate Insolvency Resolution Process (CIRP) against Process Construction And Technical Services Private Limited by filing a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was admitted on 28.04.2023, leading to the commencement of CIRP and imposition of a moratorium. An Interim Resolution Professional (IRP) was appointed, who made a public announcement for claims. Subsequently, an application (IA-1183(MB)2024) was filed seeking withdrawal of the CIRP under Section 12A of the IBC. The applicant stated that they received Form FA on 12.03.2024, and the Committee of Creditors (CoC) approved the withdrawal with a 100% vote in its meeting held on 13.03.2024. The applicant also submitted that the RP fee
…The Company Petition filed under Section 7 of…
The appointed Interim Resolution Professional…