Withdrawal from CIRP on the ground that the Applicant is in the ...

CIRP Withdrawal Request Filed by Creditor's Assignee Must Follow Regulation 30A(1)(b) and Section 12A of IBC 2016.

February 23, 2021

Case Laws Insolvency and Bankruptcy Tri

Withdrawal from CIRP on the ground that the Applicant is in the process of re-structuring the debt of the Corporate Debtor - As a matter of fact, in this case no application for withdrawal of CIRP has ever been filed by the Interim Resolution Professional before the Adjudicating Authority, rather this IA has been filed by the assignee of financial creditor. As is evident from the records, since CoC has already been constituted in this case, any application for withdrawal of CIRP has to comply with regulation 30A (1) (b) of CIRP regulations read with Section 12 A of IBC-2016. - Tri

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Withdrawal from CIRP on the ground that the Applicant is in the ...

CIRP Withdrawal Request Filed by Creditor's Assignee Must Follow Regulation 30A(1)(b) and Section 12A of IBC 2016.

February 23, 2021

Case Laws Insolvency and Bankruptcy Tri

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