The case pertains to IA/5343/2023 in C.P. (IB)/670(MB)2021 before the National Company Law Tribunal, Mumbai Bench. The IA was filed by the Resolution Professional (RP) seeking withdrawal of the application under Section 12A of the Insolvency and Bankruptcy Code, 2016.
M/s. Tata Capital Financial Services Ltd. filed a petition against VS Omnitrade India Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Resolution Professional (RP) subsequently filed IA 5343 of 2023 seeking withdrawal of the application under Section 12A, based on the approval of 100% of the Committee of Creditors (CoC) in their meeting held on 13.10.2023. The key fact is the unanimous approval of the CoC for the withdrawal, which influenced the court's decision.
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Meeting of the Committee of Creditors (CoC)…
The NCLT delivered the order allowing the…
The case pertains to IA/5343/2023 in C.P. (IB)/670(MB)2021 before the National Company Law Tribunal, Mumbai Bench. The IA was filed by the Resolution Professional (RP) seeking withdrawal of the application under Section 12A of the Insolvency and Bankruptcy Code, 2016.
M/s. Tata Capital Financial Services Ltd. filed a petition against VS Omnitrade India Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Resolution Professional (RP) subsequently filed IA 5343 of 2023 seeking withdrawal of the application under Section 12A, based on the approval of 100% of the Committee of Creditors (CoC) in their meeting held on 13.10.2023. The key fact is the unanimous approval of the CoC for the withdrawal, which influenced the court's decision.
Meeting of the Committee of Creditors (CoC)…
The NCLT delivered the order allowing the…