The case pertains to an application (I.A. 1444/2022) filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) order against the Corporate Debtor. The IRP states that the matter was settled between the parties before the constitution of the Committee of Creditors (COC).
The Interim Resolution Professional (IRP) filed an application (I.A. 1444/2022) under Section 12A of the Insolvency and Bankruptcy Code to withdraw the CIRP order against the Corporate Debtor. The IRP stated that the matter was settled between the parties before the Committee of Creditors (COC) was constituted. The IRP also confirmed that he had received the CIRP costs, including his fee. The CIRP order was initially passed on 09.05.2022. The settlement occurred before the COC could be formed, thus negating the need for COC approval for the withdrawal.
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The CIRP order was…
Hearing of the Mumbai…
The case pertains to an application (I.A. 1444/2022) filed by the Interim Resolution Professional (IRP) under Section 12A of the Insolvency and Bankruptcy Code for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) order against the Corporate Debtor. The IRP states that the matter was settled between the parties before the constitution of the Committee of Creditors (COC).
The Interim Resolution Professional (IRP) filed an application (I.A. 1444/2022) under Section 12A of the Insolvency and Bankruptcy Code to withdraw the CIRP order against the Corporate Debtor. The IRP stated that the matter was settled between the parties before the Committee of Creditors (COC) was constituted. The IRP also confirmed that he had received the CIRP costs, including his fee. The CIRP order was initially passed on 09.05.2022. The settlement occurred before the COC could be formed, thus negating the need for COC approval for the withdrawal.
The CIRP order was…
Hearing of the Mumbai…