Allowed
In the matter of Richa Realtors Pvt. Ltd. Ia 1355-2022 In C.P. (IB)-452(MB)2021
Case brief
AI extract
What is this about?
This order allowed an application by the Resolution Professional for withdrawing the Corporate Insolvency Resolution Process after the Creditors' Committee passed a resolution with 100% voting. Consequently, the CIRP was withdrawn, and control over assets was returned to suspended directors.
What did the court decide?
Application allowed; CIRP withdrawn; RP discharged; charge of assets returned to suspended Board of Directors; impugned C.P. dismissed.