The Tribunal allowed the Resolution Professional's application for withdrawal of the Corporate Insolvency Resolution Process admitted earlier, directing the handover of assets to the suspended Board of Directors and discharging the RP.
Withdrawal of CIRP ordered; charge of assets handed over to suspended Board; RP discharged.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH COURT – IV
In C.P. (IB)/1145(MB)2020
CORAM:
SHRI RAJESH SHARMA MEMBER (Technical)
SHRI KISHORE VEMULAPALLI MEMBER (Judicial)
ORDER SHEET OF THE HEARING HELD ON 08.06.2022
Name of the Parties: Muthoot Fincorp Ltd. Vs Richa Lifespace Pvt. Ltd.
SECTION 12A OF INSOLVENCY AND BANKRUPTCY CODE, 2016
ORDER
The Court is convened through Video Conference.
Affairs of the Corporate Debtor back to the Suspended Members of the Board of Directors. RP is discharged from his duties.
Sd/- Sd/-
KISHORE VEMULAPALLI Member (Judicial)
RAJESH SHARMA Member (Technical)
/NP/
1 issue framed by the court
Whether the conditions for withdrawal of Corporate Insolvency Resolution Process under Section 12A were satisfied.
2 provisions across 2 enactments
Muthoot Fincorp Ltd.
Richa Lifespace Pvt. Ltd.
Kishore Vemulapalli
Rajesh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
