The Tribunal allowed the Respondent's interim application for withdrawal of the CIRP due to absence of the Committee of Creditors and a stated settlement between the parties, leading to the disposal of the Company Petition.
Withdrawal of CIRP granted; Company Petition disposed of.
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NATIONAL COMPANY LAW TRIBUNAL COURT-V, MUMBAI BENCH
CORAM:
MS. REETA KOHLI, MS. MADHU SINHA, MEMBER (J) MEMBER (T)
ORDER SHEET OF THE HEARING OF MUMBAI BENCH OF THE NATIONAL COMPANY LAW TRIBUNAL ON 12.09.2023.
NAME OF THE PARTIES: SWIFTMAIL COMMUNICATIONS LTD
VS
CHIRVA PVT LTD
SECTION : Sec 9 of IBC 2016
Presence: Ms. Raina Birla, Counsel for the RP
ORDER
I.A. 4013 of 2023
The counsel for the RP submits that in view of the fact that no CoC was formed and in view of the communication dated 22.08.2023 between the RP and the Operational Creditor stating therein that the parties have already settled the matter, the withdrawal of CIRP may be allowed.
I.A. is allowed as prayed for and the Company Petition is disposed of as such.
Sd/- Sd/MADHU SINHA REETA KOHLI Member(Technical) Member(Judicial)
/P/
2 issues framed by the court
Whether withdrawal of Corporate Insolvency Resolution Process may be allowed in absence of a Committee of Creditors formed.
Whether a settlement communication between the Respondent and Operational Creditor warrants disposal of the Company Petition.
1 provisions across 1 enactments
SWIFTMAIL COMMUNICATIONS LTD
CHIRVA PVT LTD
MS. REETA KOHLI
MS. MADHU SINHA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
