The Resolution Professional filed an application (IA 780/2023) under Section 12A of the IBC seeking the Tribunal's permission to withdraw the Company Petition. The basis for the withdrawal is that the Corporate Debtor has settled the matter with the Operational Creditor.
Sri Lakshmi Venkateshwara Traders, the Operational Creditor, initiated a Company Petition (IB/53/2021) against SNS Starch Limited, the Corporate Debtor. The Resolution Professional filed IA 780/2023 seeking to withdraw the Company Petition under Section 12A of the IBC, because the Corporate Debtor and Operational Creditor settled the matter. The settlement deed is dated 2023-05-09. The petition was accompanied by a photocopy of the Demand Drafts. Form FA dated 2023-05-10 was also submitted. The CIRP order passed in the Company Petition dated 2023-05-01 was vacated, and the interim moratorium was lifted.
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CIRP order was passed…
Original…
The Resolution Professional filed an application (IA 780/2023) under Section 12A of the IBC seeking the Tribunal's permission to withdraw the Company Petition. The basis for the withdrawal is that the Corporate Debtor has settled the matter with the Operational Creditor.
Sri Lakshmi Venkateshwara Traders, the Operational Creditor, initiated a Company Petition (IB/53/2021) against SNS Starch Limited, the Corporate Debtor. The Resolution Professional filed IA 780/2023 seeking to withdraw the Company Petition under Section 12A of the IBC, because the Corporate Debtor and Operational Creditor settled the matter. The settlement deed is dated 2023-05-09. The petition was accompanied by a photocopy of the Demand Drafts. Form FA dated 2023-05-10 was also submitted. The CIRP order passed in the Company Petition dated 2023-05-01 was vacated, and the interim moratorium was lifted.
CIRP order was passed…
Original…