The Resolution Professional filed an application seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) proceedings.
The Resolution Professional filed an application to withdraw the CIRP proceedings.
The basis for the withdrawal is an amicable settlement between the parties.
The terms of the settlement are annexed to the application and available from page 69 onwards, specifically Clause 1.1.3.
The promoters agreed to a Share Purchase Agreement with a third-party purchaser.
The third-party purchaser will buy Tikona Sale Shares for INR 149,50,00,000.
INR 30,00,00,000 will be paid immediately upon signing the LTF SPA, and the balance will be paid via issuance of shares.
CIRP expenses were incurred prior to the constitution of the Committee of Creditors (CoC).
Sign in to view the parties.
Order sheet of…
The Resolution Professional filed an application seeking withdrawal of the Corporate Insolvency Resolution Process (CIRP) proceedings.
The Resolution Professional filed an application to withdraw the CIRP proceedings.
The basis for the withdrawal is an amicable settlement between the parties.
The terms of the settlement are annexed to the application and available from page 69 onwards, specifically Clause 1.1.3.
The promoters agreed to a Share Purchase Agreement with a third-party purchaser.
The third-party purchaser will buy Tikona Sale Shares for INR 149,50,00,000.
INR 30,00,00,000 will be paid immediately upon signing the LTF SPA, and the balance will be paid via issuance of shares.
CIRP expenses were incurred prior to the constitution of the Committee of Creditors (CoC).
Order sheet of…