The case involves an application for withdrawal of a Corporate Insolvency Resolution Process (CIRP) application filed by the Operational Creditor. The counsel for the Operational Creditor appeared and submitted that an application for withdrawal had already been filed, but it was not yet on record. They requested an additional date, stating that the Corporate Debtor had provided post-dated checks. They also requested the liberty to revive the application if settlement fails.
The Operational Creditor filed a CIRP application. The Operational Creditor's counsel requested withdrawal of the application, stating that a withdrawal application was already filed but not yet recorded. The Corporate Debtor provided post-dated checks, suggesting a potential settlement. The Operational Creditor requested liberty to revive the application if the settlement fails. The court considered these submissions.
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Hearing held on October 27, 2021, at 2:30 PM…
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The case involves an application for withdrawal of a Corporate Insolvency Resolution Process (CIRP) application filed by the Operational Creditor. The counsel for the Operational Creditor appeared and submitted that an application for withdrawal had already been filed, but it was not yet on record. They requested an additional date, stating that the Corporate Debtor had provided post-dated checks. They also requested the liberty to revive the application if settlement fails.
The Operational Creditor filed a CIRP application. The Operational Creditor's counsel requested withdrawal of the application, stating that a withdrawal application was already filed but not yet recorded. The Corporate Debtor provided post-dated checks, suggesting a potential settlement. The Operational Creditor requested liberty to revive the application if the settlement fails. The court considered these submissions.
Hearing held on October 27, 2021, at 2:30 PM…
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