In the matter of Supreme Bituchem India Pvt. Ltd. M.A 3858/2019 In C.P.(IB)-1421(MB)-2019
Case brief
What is this about?
The Tribunal allowed an application by the IRP to withdraw the insolvency petition after satisfaction that the debt was fully paid and the requisite Form-FA was filed. Consequently, the petition was withdrawn and the IRP was discharged.
What did the court decide?
Petition under Section 12A.IBC allowed and ordered withdrawn; Application for withdrawal allowed; IRP discharged; Corporate Debtor relieved from Code's rigor.