Seeking withdrawal of CIRP - The tribunal noted the appellant's ...

Case Laws Insolvency and Bankruptcy

January 30, 2024

Seeking withdrawal of CIRP - The tribunal noted the appellant's repeated failures in meeting commitments to the operational creditor. - It highlighted that the HDFC Bank's decision to oppose the CIRP withdrawal was based on commercial wisdom, considering the substantial financial loss involved. - The threshold for CIRP withdrawal under Section 12A – approval from 90% of the CoC – was not met, as HDFC Bank, holding 19.94% of the voting share, opposed the withdrawal. - AT

View Source

← Previous Next →

Seeking withdrawal of CIRP - The tribunal noted the appellant's ...

Case Laws Insolvency and Bankruptcy

January 30, 2024

You may also like:

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...

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...

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...

Withdrawal of the CIRP against the Principal Borrower - bar for the Respondent/Lender in initiating fresh CIRP against the Guarantor or not - , this Tribunal holds that...

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...

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),...

Withdrawal of CIRP - Whether the Resolution Professional can be permitted to withdraw the CIRP against the Corporate Debtor by invoking inherent powers under Rule 11 of...

The National Company Law Appellate Tribunal, New Delhi, addressed the issue of forfeiture of INR 10 Crores by the Committee of Creditors (CoC) led by State Bank of India...

Permission to withdraw the Corporate Insolvency Resolution Process (CIRP) - The resolution for withdrawal of CIRP did not obtain the required percentage of voting by the...

Rectification of defects in section 7 application - ambit of a Power of Attorney - Home Buyers - NCLT rejected the application for initiation of CIRP - The appellate...

Scope of CIRP costs - Section 5(13) and Regulation 31 - waterfall mechanism - contract was completed during the CIRP period - The Tribunal emphasized that for a claim to...

CIRP - Completion of Real estate project during the Proceedings - Appellant filed an application seeking permission for unsecured and secured financial creditors to vote...

Initiation of CIRP - Relevant date of default - The Tribunal noted the appellant’s arguments about defaults prior to the RBI’s COVID-19 moratorium guidelines but also...

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

The Appellant sought payment of its pre-CIRP dues from the Respondent in a manner different from the approved resolution plan, which provided for payment of pre-CIRP...

Quick Updates: