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


Settlement Halts CIRP: Tribunal Closes Proceedings Using Rule 11 of NCLAT Rules, 2016 After Parties Reach Agreement.

May 17, 2023

Case Laws     Insolvency and Bankruptcy     AT

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

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