The application was filed by the Resolution Professional under Section 12A of the Insolvency & Bankruptcy Code, 2016, read with Regulation 30(A) of the IBBI (Corporate Insolvency Resolution Process) Regulations, 2016, seeking withdrawal of the Section 9 Petition. CIRP was initiated against the Corporate Debtor vide order dated 2023-07-24, and the IRP was appointed. The IRP made an announcement on 2023-07-28 and sought claims from creditors, receiving only one claim from the Operational Creditor who filed the Section 9 Petition. The CoC was constituted with one member only. The IRP was confirmed as the RP in the first CoC meeting held on 2023-09-01, and an application under Section 19 was filed. Before the first CoC meeting, the sole Operational Creditor and the
…An application was filed by the Resolution Professional seeking withdrawal of a Section 9 petition under Section 12A of the IBC, read with Regulation 30(A) of the IBBI Regulations. CIRP had been initiated against the Corporate Debtor on 2023-07-24, and an IRP was appointed. The IRP made a public announcement on 2023-07-28. Only one claim was received from the Operational Creditor who had filed the Section 9 petition. The CoC was formed with only one member. The IRP was confirmed as RP on 2023-09-01. An application under Section 19 was filed by the RP. Before the first CoC meeting, the Operational Creditor and the suspended director discussed settlement. Form FA was submitted on 2024-01-11 along with a memorandum of compromise dated 2023-12-26. In the third CoC meeting
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CIRP was ini…
IRP made an announcement…
The application was filed by the Resolution Professional under Section 12A of the Insolvency & Bankruptcy Code, 2016, read with Regulation 30(A) of the IBBI (Corporate Insolvency Resolution Process) Regulations, 2016, seeking withdrawal of the Section 9 Petition. CIRP was initiated against the Corporate Debtor vide order dated 2023-07-24, and the IRP was appointed. The IRP made an announcement on 2023-07-28 and sought claims from creditors, receiving only one claim from the Operational Creditor who filed the Section 9 Petition. The CoC was constituted with one member only. The IRP was confirmed as the RP in the first CoC meeting held on 2023-09-01, and an application under Section 19 was filed. Before the first CoC meeting, the sole Operational Creditor and the
…An application was filed by the Resolution Professional seeking withdrawal of a Section 9 petition under Section 12A of the IBC, read with Regulation 30(A) of the IBBI Regulations. CIRP had been initiated against the Corporate Debtor on 2023-07-24, and an IRP was appointed. The IRP made a public announcement on 2023-07-28. Only one claim was received from the Operational Creditor who had filed the Section 9 petition. The CoC was formed with only one member. The IRP was confirmed as RP on 2023-09-01. An application under Section 19 was filed by the RP. Before the first CoC meeting, the Operational Creditor and the suspended director discussed settlement. Form FA was submitted on 2024-01-11 along with a memorandum of compromise dated 2023-12-26. In the third CoC meeting
…CIRP was ini…
IRP made an announcement…