The Resolution Professional filed an application under Section 12A of the IBC, 2016, seeking to withdraw the Section 9 Petition after the Committee of Creditors (CoC) passed a resolution with 100% voting for withdrawal, and the matter was settled between the parties outside of court.
The Resolution Professional filed an application, New IA/1747/2024, under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. This application sought the withdrawal of the Section 9 Petition, IB-2826/ND/2019, which had initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. CIRP was initiated against the Corporate Debtor by an order dated December 21, 2021, and an Interim Resolution Professional (IRP) was appointed. The IRP subsequently made an announcement on December 26, 2021, by publishing Form A, inviting claims from creditors. Only one claim was received, from the Operational Creditor who had filed the Section 9
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CIRP was initiated against the Corporate…
The IRP made an…
The Resolution Professional filed an application under Section 12A of the IBC, 2016, seeking to withdraw the Section 9 Petition after the Committee of Creditors (CoC) passed a resolution with 100% voting for withdrawal, and the matter was settled between the parties outside of court.
The Resolution Professional filed an application, New IA/1747/2024, under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. This application sought the withdrawal of the Section 9 Petition, IB-2826/ND/2019, which had initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. CIRP was initiated against the Corporate Debtor by an order dated December 21, 2021, and an Interim Resolution Professional (IRP) was appointed. The IRP subsequently made an announcement on December 26, 2021, by publishing Form A, inviting claims from creditors. Only one claim was received, from the Operational Creditor who had filed the Section 9
…CIRP was initiated against the Corporate…
The IRP made an…