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IBC - Highlights / Catch Notes

Home Highlights December 2019 Year 2019 This

Permission to withdraw the CIRP Application - if 90% voting ...

Insolvency and Bankruptcy

December 4, 2019

Permission to withdraw the CIRP Application - if 90% voting share of Committee of Creditors approves application for withdrawal then Adjudicating Authority to allow for withdrawing the application filed under section 7 or section 9 or section 10 of the Code - The application filed by RP is to be allowed and moratorium order passed under section 14 shall cease to exist.

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  1. 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...

  2. Withdrawal of petition - Applicant and the Debtor Company have never been qualified as a “Wilful defaulter” - Section 12A prescribes that the Adjudicating Authority may...

  3. Initiation of Corporate Insolvency Resolution Process - financial creditor - home buyers - failure to pay assured return /monthly rent - The applicants fall within the...

  4. Corporate Insolvency Resolution Process - existence of eligible debt - Operational Creditor had provided security services to the Corporate Debtor and maintained a...

  5. Delay in implementation of approved Resolution Plan - In the present case, the Approved Resolution Plan has been alleged to be contravened by the Successful Resolution...

  6. Application for withdrawal of IBC - Section 12A of I&B Code - Once the CIRP proceedings initiated and the Committee of Creditors constituted, the Adjudicating Authority...

  7. Liquidation of the Corporate Debtor - CIRP period has expired and no resolution plan was approved by the Committee of Creditors - The Corporate Debtor is ordered to be...

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

  9. Liquidation of Corporate Debtor - This ‘Tribunal’ keeping in mind of a primordial fact that the decision of the ‘Committee of Creditors’ takes a pivotal seat based on...

  10. Corporate Insolvency Resolution Process - mala fide intention - the corporate applicant filed the application with mala fide intention and with ulterior motive for...

 

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