The case involves an application for withdrawal of an admitted petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was filed under Rule 11 of the NCLT Rules, 2016, read with Section 12A and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulation, 2016. The Form-FA, along with the application and resolution to that effect, was filed with 100% voting share for withdrawal of the petition.
MTC Ispat Pvt. Ltd. filed a petition against Steel Feather Industries Pvt Ltd. under Section 9 of the IBC, 2016. The petition was admitted. Subsequently, an application (IA No. 2934/23) was filed for the withdrawal of the admitted petition, supported by a resolution with 100% voting share. The application was filed under Rule 11 of the NCLT Rules, 2016, read with Section 12A and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulation, 2016. The court considered the application and the submissions made by the learned counsel for the Interim Resolution Professional. The key fact is the unanimous support for the withdrawal, indicating a resolution among the stakeholders.
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An application (IA No. 2934/23) was filed for…
The court allowed IA No.2934/23 and dismissed…
The case involves an application for withdrawal of an admitted petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was filed under Rule 11 of the NCLT Rules, 2016, read with Section 12A and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulation, 2016. The Form-FA, along with the application and resolution to that effect, was filed with 100% voting share for withdrawal of the petition.
MTC Ispat Pvt. Ltd. filed a petition against Steel Feather Industries Pvt Ltd. under Section 9 of the IBC, 2016. The petition was admitted. Subsequently, an application (IA No. 2934/23) was filed for the withdrawal of the admitted petition, supported by a resolution with 100% voting share. The application was filed under Rule 11 of the NCLT Rules, 2016, read with Section 12A and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulation, 2016. The court considered the application and the submissions made by the learned counsel for the Interim Resolution Professional. The key fact is the unanimous support for the withdrawal, indicating a resolution among the stakeholders.
An application (IA No. 2934/23) was filed for…
The court allowed IA No.2934/23 and dismissed…