Allowed
In the matter of Lotus Inn Pvt. Ltd. I.A. 1859-2020 in C.P. (Ib) 3853(MB)-2018
Case brief
AI extract
What is this about?
The Appeal Bench allowed an interim application filed by the Resolution Professional under Section 12A of the Insolvency and Bankruptcy Code, 2016, permitting the withdrawal of the Corporate Insolvency Resolution Process following a settlement between the operational creditor and the corporate debtor.
What did the court decide?
Interim application allowed; main company petition disposed of; CIRP admission order withdrawn; corporate debtor released from moratorium.