Allowed
In the matter of Vrp Buildtech Pvt. Ltd. [IA-3134-2023 in IB-2765(ND)-2019]
NCLTIA-3134-2023 in IB-2765(ND)-2019
Case brief
AI extract
What is this about?
The Tribunal considered an application by the Interim Resolution Professional seeking withdrawal of the main insolvency petition under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A, as the matter had been settled between the parties following the initiation of CIRP. The court permitted the withdrawal and dismissed the main petition.
What did the court decide?
The application for withdrawal of the main petition was permitted; the main petition CP(IB)-2765/ND/2019 was dismissed as withdrawn.