TaxTMI 
TaxTMI 
2019 (8) TMI 1037
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....f Creditors is present through its Authorised Officer and submitted that the matter has been settled with the Corporate Debtor Company as bank the Petitioner Bank was able to make E-auction of the assets(property) of the company and has realised an amount of Rs. 9.76 Crores towards full satisfaction of its debts, hence the Petitioner Bank does not wish to keep continue with the Corporate Insolvency Resolution Process. 3. Therefore, the present application is preferred by the RP under Section 12A of the Insolvency and Bankruptcy Code r.w 30(a), as the Petitioner viz. Central Bank of India being sole member of Committee of Creditors vide its resolution dated 05.07.2019 (page no. 26 Item No. 4 clause (viii) has duly approved the settlement pr....
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.... public announcement was submitted to IBBI and IIIPA of ICAI. ii. The IRP personally visited the registered office and factory premises of the corporate debtor. Ms. Jagrutiben Patel the Director of the corporate debtors informed the IRP that registered office was on rented premises and no assets and records of the corporate debtor is available at registered office. She further informed that loan accounts of the Company is NPA since year 2016 and operations of the Company has been closed since then. The physical possession of assets of the corporate debtor has already been taken by sole secured financial creditor since Nov. 2018 under SARFAESI law and security agency was appointed to safeguard the assets of the company. iii. The IRP also....
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....he valuer, accountant and forensic auditor but COC suggested to consider the same in next COC meeting. vii. An application for withdrawal of Corporate Insolvency Resolution Process before constitution of COC was filed by the applicant financial creditor (CBI) with Adjudicating Authority. The matter was heard by the Adjudicating Authority on 03.07.2019 and adjourned for next hearing on 23.08.2019. viii. One day before meeting of CoC, the IRP received a request in Form FA from applicant financial creditor (CBI) for withdrawal of the Corporate Insolvency Resolution Process under Section 12A of the Insolvency & Bankruptcy Code 2016. The IRP circulated the same as supplement agenda of notice to CoC member for discussion and vote. The Applica....