The case involves an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against M/s Surya Irrigation Pvt. Ltd. The CIRP was initiated based on Section 9 of the IBC, 2016. The application for withdrawal was filed under Section 12A of the IBC, 2016 read with Regulation 30A of the CIRP Regulations, 2016. The Operational Creditor and Corporate Debtor had amicably settled their disputes by entering into a settlement deed dated 29.04.2023, wherein the Operational Creditor received an amount of Rs. 5,00,000. Later, a dispute arose regarding the submission of a defective Form FA.
Adhunik Niryat Ispat Ltd. filed an application as an Operational Creditor against M/s Surya Irrigation Pvt. Ltd., the Corporate Debtor, under Section 9 of the IBC, 2016, leading to the initiation of CIRP. Subsequently, the Operational Creditor and the Corporate Debtor entered into a settlement agreement dated 29.04.2023, where the Operational Creditor received Rs. 5,00,000. An application was filed under Section 12A of the IBC, 2016, read with Regulation 30A of the CIRP Regulations, 2016, seeking withdrawal of the CIRP. A dispute arose regarding the submission of a defective Form FA, and a Revised Form FA dated 20.10.2023 was submitted. The initial order initiating CIRP was dated 05.12.2022.
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Filing of CP N…
Order initiating CIRP…
The case involves an application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against M/s Surya Irrigation Pvt. Ltd. The CIRP was initiated based on Section 9 of the IBC, 2016. The application for withdrawal was filed under Section 12A of the IBC, 2016 read with Regulation 30A of the CIRP Regulations, 2016. The Operational Creditor and Corporate Debtor had amicably settled their disputes by entering into a settlement deed dated 29.04.2023, wherein the Operational Creditor received an amount of Rs. 5,00,000. Later, a dispute arose regarding the submission of a defective Form FA.
Adhunik Niryat Ispat Ltd. filed an application as an Operational Creditor against M/s Surya Irrigation Pvt. Ltd., the Corporate Debtor, under Section 9 of the IBC, 2016, leading to the initiation of CIRP. Subsequently, the Operational Creditor and the Corporate Debtor entered into a settlement agreement dated 29.04.2023, where the Operational Creditor received Rs. 5,00,000. An application was filed under Section 12A of the IBC, 2016, read with Regulation 30A of the CIRP Regulations, 2016, seeking withdrawal of the CIRP. A dispute arose regarding the submission of a defective Form FA, and a Revised Form FA dated 20.10.2023 was submitted. The initial order initiating CIRP was dated 05.12.2022.
Filing of CP N…
Order initiating CIRP…