Seeking closure (withdrawal) of CIRP proceedings - Settlement of ...

Case Laws Insolvency and Bankruptcy

May 17, 2023

Seeking closure (withdrawal) of CIRP proceedings - Settlement of dispute between the parties - The present is a case where Committee of Creditors has not yet been constituted and the Appellant after filing settlement agreement by the Financial Creditor dated 08th May, 2023, prays for withdrawal of the CIRP in exercise of inherent power of this Tribunal under Rule 11 of NCLAT Rules, 2016. - CIRP closed - AT

View Source

← Previous Next →

Seeking closure (withdrawal) of CIRP proceedings - Settlement of ...

Case Laws Insolvency and Bankruptcy

May 17, 2023

You may also like:

Seeking withdrawal of main Insolvency and Bankruptcy Application - In the instant case on hand, the Committee of Creditors had voted under Section 12A of the Code...

Seeking withdrawal of the CIRP proceedings - in the Terms of Settlement dated 21.04.2022, in Clause 12, it was mentioned that because of the Settlement, the...

Seeking withdrawal of application admitted u/s 7 of IBC - Considering the number of people dependant on the Corporate Debtor for their survival and livelihood, there is...

Withdrawal of CIRP proceedings on settlement between parties - when the Applicant wants to withdraw the application before Constitution of CoC, while resorting to...

CIRP - Liquidation of corporate debtor - Refusal to approve the private sale - The Tribunal acknowledged the procedural challenges presented by the liquidator’s...

Jurisdiction of the Adjudicating Authority (NCLT) to adjudicate upon a closure notice issued prior to the initiation of the Corporate Insolvency Resolution Process...

Seeking withdrawal of CIRP - The tribunal noted the appellant's repeated failures in meeting commitments to the operational creditor. - It highlighted that the HDFC...

Seeking release of the corporate debtor from the rigours of CIRP - NCLT closed the CIRP proceedings despite the stay order by NCLAT against withdrawal Order - The...

The NCLAT erred in invoking its inherent powers u/r 11 of the NCLAT Rules 2016 to approve a settlement between the second respondent and the Corporate Debtor,...

Seeking withdrawal of application for initiation of CIRP - On a bare reading of the provision of section 7(5) clauses (a) and (b) it is amply clear that the Adjudicating...

Initiation of CIRP - existence of debt and dispute or not - Settlement of dispute between the parties or not - NCLT rejected the application - the Adjudicating Authority...

Initiation of CIRP - existence of dispute supported by evidences - The dispute which has been raised is a genuine dispute which required further investigation, cannot be...

Withdrawal of CIRP - The NCLAT emphasized that withdrawal of CIRP necessitates an application by the applicant and approval by 90% of the Committee of Creditors (CoC),...

Initiation of CIRP - Corporate Debtor failed to make repayment of its dues - pre-existing dispute or not - the disputed invoices were rightly sent to the respondent -...

Initiation of CIRP - Whether the ‘Dispute’ pertaining to the invoice was settled between the parties? - The material on record, specifically the email dated 08.02.2019...

Quick Updates: