The application IA/553/CHE/2022 was filed by the Interim Resolution Professional (IRP) of the Corporate Debtor, Ramcharan Company Private Limited, under Section 12A of the Insolvency & Bankruptcy Code, 2016, read with Regulation 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and Rule 11 of National Company Law Tribunal Rules, 2016. The IRP sought to withdraw the Company Petition numbered as CP(IB)/157(CHE)/2021 and to be discharged from his responsibilities, with the Corporate Debtor's assets and records returned to its Board of Directors.
The Interim Resolution Professional (IRP) of Ramcharan Company Private Limited filed an application to withdraw the Corporate Insolvency Resolution Process (CIRP) initiated against the company. The CIRP had commenced vide order dated 21.04.2022, and Form-A publication was effected on 25.04.2022. An application filed by Witman Industries Private Limited, an Operational Creditor, under Section 9 of IBC, was disposed of with a direction to file a claim before the IRP. A Memorandum of Understanding (MOU) was executed between the shareholder/promoter of the Corporate Debtor and Witman Industries for amicable settlement. The IRP stated that the applicant and the Corporate Debtor had entered into a final settlement, and the IRP expenses had been paid. An intervenor opposed
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The present app…
CIRP in the matter…
The application IA/553/CHE/2022 was filed by the Interim Resolution Professional (IRP) of the Corporate Debtor, Ramcharan Company Private Limited, under Section 12A of the Insolvency & Bankruptcy Code, 2016, read with Regulation 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and Rule 11 of National Company Law Tribunal Rules, 2016. The IRP sought to withdraw the Company Petition numbered as CP(IB)/157(CHE)/2021 and to be discharged from his responsibilities, with the Corporate Debtor's assets and records returned to its Board of Directors.
The Interim Resolution Professional (IRP) of Ramcharan Company Private Limited filed an application to withdraw the Corporate Insolvency Resolution Process (CIRP) initiated against the company. The CIRP had commenced vide order dated 21.04.2022, and Form-A publication was effected on 25.04.2022. An application filed by Witman Industries Private Limited, an Operational Creditor, under Section 9 of IBC, was disposed of with a direction to file a claim before the IRP. A Memorandum of Understanding (MOU) was executed between the shareholder/promoter of the Corporate Debtor and Witman Industries for amicable settlement. The IRP stated that the applicant and the Corporate Debtor had entered into a final settlement, and the IRP expenses had been paid. An intervenor opposed
…The present app…
CIRP in the matter…