The case pertains to an application filed by the Interim Resolution Professional (IRP) seeking to withdraw a Corporate Insolvency Resolution Process (CIRP) application under IB-596(ND)/2020. The initial order admitted the CIRP, but the current application seeks to terminate it.
M/s. Rama Tent House filed a petition against M/s. Unisons Hotels Pvt. Ltd. under Section 9 of the IB Code, 2016, leading to the initiation of CIRP. The IRP subsequently filed an application (IA/5810/2023) to withdraw the CIRP. The court heard the counsel for the applicant and granted liberty to withdraw the Company Petition bearing IB/596/ND/2020. The order admitting CIRP was terminated, and the IRP was discharged. The moratorium issued under Section 14 was also terminated as a consequence of the CIRP termination. The Company Petition bearing IB/596/ND/2020 was dismissed as withdrawn.
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Order delivere…
The case pertains to an application filed by the Interim Resolution Professional (IRP) seeking to withdraw a Corporate Insolvency Resolution Process (CIRP) application under IB-596(ND)/2020. The initial order admitted the CIRP, but the current application seeks to terminate it.
M/s. Rama Tent House filed a petition against M/s. Unisons Hotels Pvt. Ltd. under Section 9 of the IB Code, 2016, leading to the initiation of CIRP. The IRP subsequently filed an application (IA/5810/2023) to withdraw the CIRP. The court heard the counsel for the applicant and granted liberty to withdraw the Company Petition bearing IB/596/ND/2020. The order admitting CIRP was terminated, and the IRP was discharged. The moratorium issued under Section 14 was also terminated as a consequence of the CIRP termination. The Company Petition bearing IB/596/ND/2020 was dismissed as withdrawn.
Order delivere…