The case involves an application (IA No.635/2023) filed in connection with a corporate insolvency resolution process (CIRP) under CP (IB) No.489/ALD/2019. The Resolution Professional (RP) sought withdrawal of the main petition under Section 12A of the Insolvency and Bankruptcy Code (IBC).
The Resolution Professional (RP) filed an application (IA No.635/2023) under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking withdrawal of the main insolvency petition (CP (IB) No.489/ALD/2019). The Committee of Creditors (CoC) had approved the withdrawal in a meeting held on November 23, 2023, with a 100% voting majority. The RP stated that a cheque had been issued for the CIRP costs, although it was yet to be deposited. The application for withdrawal was based on the CoC's decision and the RP's averments.
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The Committee of Creditors (CoC) held a meeting…
The court passed an order allowing the…
The case involves an application (IA No.635/2023) filed in connection with a corporate insolvency resolution process (CIRP) under CP (IB) No.489/ALD/2019. The Resolution Professional (RP) sought withdrawal of the main petition under Section 12A of the Insolvency and Bankruptcy Code (IBC).
The Resolution Professional (RP) filed an application (IA No.635/2023) under Section 12A of the Insolvency and Bankruptcy Code (IBC) seeking withdrawal of the main insolvency petition (CP (IB) No.489/ALD/2019). The Committee of Creditors (CoC) had approved the withdrawal in a meeting held on November 23, 2023, with a 100% voting majority. The RP stated that a cheque had been issued for the CIRP costs, although it was yet to be deposited. The application for withdrawal was based on the CoC's decision and the RP's averments.
The Committee of Creditors (CoC) held a meeting…
The court passed an order allowing the…