The case involves an application filed by the Resolution Professional (RP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking permission to withdraw a Section 9 Company Petition (IB-841/ND/2020) due to a settlement between the parties. The Committee of Creditors (CoC) had previously approved the withdrawal in its 5th meeting.
Kedrion Biopharma Inc. filed a Section 9 application under the IBC against Wizman Impex Pvt. Ltd. The Resolution Professional (RP) filed an application (IA3949/2024) under Section 12A of the IBC, seeking to withdraw the Section 9 petition (IB-841/ND/2020) due to a settlement. The Committee of Creditors (CoC) approved the withdrawal with 99% voting in its 5th meeting held on 2024-07-12. The Operational Creditor confirmed the settlement and payment of CIRP costs. The key fact is the settlement between the parties, leading to the withdrawal request.
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The Committee of Creditors (CoC) held its 5th…
The court delivered an order allowing the…
The case involves an application filed by the Resolution Professional (RP) under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking permission to withdraw a Section 9 Company Petition (IB-841/ND/2020) due to a settlement between the parties. The Committee of Creditors (CoC) had previously approved the withdrawal in its 5th meeting.
Kedrion Biopharma Inc. filed a Section 9 application under the IBC against Wizman Impex Pvt. Ltd. The Resolution Professional (RP) filed an application (IA3949/2024) under Section 12A of the IBC, seeking to withdraw the Section 9 petition (IB-841/ND/2020) due to a settlement. The Committee of Creditors (CoC) approved the withdrawal with 99% voting in its 5th meeting held on 2024-07-12. The Operational Creditor confirmed the settlement and payment of CIRP costs. The key fact is the settlement between the parties, leading to the withdrawal request.
The Committee of Creditors (CoC) held its 5th…
The court delivered an order allowing the…