https://www.taxtmi.com/caselaws?id=291610 The Tribunal allowed the withdrawal of C.P. No. 553 of 2019 under Section 12A of the Insolvency and Bankruptcy Code, 2016 due to the absence of claims and non-constitution of Committee of Creditors (COC). Following the Supreme Court's guidance in "Swiss Ribbons Pvt. Ltd. & Another vs. Union of India & Others," the Tribunal invoked Rule 11 of the NCLT Rules, recalling the Order of Corporate Insolvency Resolution Process (CIRP) and discharging the Interim Resolution Professional from duties. The Corporate Petition was disposed of in compliance with the legal framework. en-us Wed, 04 Dec 2019 00:00:00 +0530 Wed, 18 Nov 2020 19:22:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291610 The Tribunal allowed the withdrawal of C.P. No. 553 of 2019 under Section 12A of the Insolvency and Bankruptcy Code, 2016 due to the absence of claims and non-constitution of Committee of Creditors (COC). Following the Supreme Court's guidance in "Swiss Ribbons Pvt. Ltd. & Another vs. Union of India & Others," the Tribunal invoked Rule 11 of the NCLT Rules, recalling the Order of Corporate Insolvency Resolution Process (CIRP) and discharging the Interim Resolution Professional from duties. The Corporate Petition was disposed of in compliance with the legal framework. Case-Laws Insolvency and Bankruptcy Wed, 04 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291610