The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against QRT Labs Private Limited. An application was filed under Section 12A of the IBC seeking withdrawal of the CIRP. The CIRP was initially admitted on 24.02.2023, and a Committee of Creditors (CoC) was constituted. The Resolution Professional (RP) filed an IA seeking withdrawal of the CIRP, which was supported by the CoC. Another IA was filed by the RP seeking exclusion of 90 days in completion of CIRP.
A CIRP was initiated against QRT Labs Private Limited, and the Adjudicating Authority admitted it on 24.02.2023. A CoC was constituted. The RP filed an IA under Section 12A of the IBC seeking withdrawal of the CIRP, which was approved by the sole member of the CoC. The RP also filed another IA seeking exclusion of 90 days in the completion of CIRP. The RP stated that they had been paid their dues in full and final. The relevance of these facts is that they form the basis for the court's decision to allow the withdrawal of the CIRP and the exclusion of 90 days.
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The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against QRT Labs Private Limited. An application was filed under Section 12A of the IBC seeking withdrawal of the CIRP. The CIRP was initially admitted on 24.02.2023, and a Committee of Creditors (CoC) was constituted. The Resolution Professional (RP) filed an IA seeking withdrawal of the CIRP, which was supported by the CoC. Another IA was filed by the RP seeking exclusion of 90 days in completion of CIRP.
A CIRP was initiated against QRT Labs Private Limited, and the Adjudicating Authority admitted it on 24.02.2023. A CoC was constituted. The RP filed an IA under Section 12A of the IBC seeking withdrawal of the CIRP, which was approved by the sole member of the CoC. The RP also filed another IA seeking exclusion of 90 days in the completion of CIRP. The RP stated that they had been paid their dues in full and final. The relevance of these facts is that they form the basis for the court's decision to allow the withdrawal of the CIRP and the exclusion of 90 days.
The Adjudicating…
Hearing on the…