The Interlocutory Application I.A. 981/2022 was filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) order that was previously passed against the Corporate Debtor. This withdrawal is sought due to a settlement reached between the parties involved.
The Interim Resolution Professional (IRP) filed I.A. 981/2022 under Section 12A of the Insolvency and Bankruptcy Code seeking withdrawal of the CIRP order against the Corporate Debtor due to a settlement. The CoC approved the withdrawal with 100% voting share in its 12th meeting on 07.04.2022. The IRP confirmed receipt of CIRP costs. The CIRP order was initially passed on 19.11.2019. The relevance of these facts is that they demonstrate a settlement was reached and approved by the CoC, justifying the withdrawal of the CIRP.
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CIRP order was…
The CoC in its 12th meeting passed a…
The Interlocutory Application I.A. 981/2022 was filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) order that was previously passed against the Corporate Debtor. This withdrawal is sought due to a settlement reached between the parties involved.
The Interim Resolution Professional (IRP) filed I.A. 981/2022 under Section 12A of the Insolvency and Bankruptcy Code seeking withdrawal of the CIRP order against the Corporate Debtor due to a settlement. The CoC approved the withdrawal with 100% voting share in its 12th meeting on 07.04.2022. The IRP confirmed receipt of CIRP costs. The CIRP order was initially passed on 19.11.2019. The relevance of these facts is that they demonstrate a settlement was reached and approved by the CoC, justifying the withdrawal of the CIRP.
CIRP order was…
The CoC in its 12th meeting passed a…