The Corporate Insolvency Resolution Process (CIRP) was initiated against Topsgrup Electronic Systems Limited after the admission of a Company Petition on 28.01.2022. A public announcement was made on 31.01.2022. However, no claims were received apart from the Operational Creditor, IQ Eq Management (Netherlands) B.V. The Corporate Debtor, Topsgrup Electronic Systems Limited, possesses no tangible or realisable assets and is not a going concern. The expenses of the CIRP are being incurred by the Operational Creditor, who is the sole member of the Committee of Creditors (COC). Due to increasing costs and a low possibility of recovery, the Operational Creditor sought to withdraw from the CIRP. The Resolution Professional (RP) received an email from the Operational Creditor

The Corporate Insolvency Resolution Process (CIRP) was initiated against Topsgrup Electronic Systems Limited after the admission of a Company Petition on 28.01.2022. A public announcement was made on 31.01.2022. However, no claims were received apart from the Operational Creditor, IQ Eq Management (Netherlands) B.V. The Corporate Debtor, Topsgrup Electronic Systems Limited, possesses no tangible or realisable assets and is not a going concern. The expenses of the CIRP are being incurred by the Operational Creditor, who is the sole member of the Committee of Creditors (COC). Due to increasing costs and a low possibility of recovery, the Operational Creditor sought to withdraw from the CIRP. The Resolution Professional (RP) received an email from the Operational Creditor