Legal24 Jun 2024, 09:44 pm
Cian Healthcare Ltd's CIRP Withdrawn by NCLT: A Significant Development in Corporate Insolvency Resolution Process
AI Summary
Cian Healthcare Ltd, a company identified by 542678, has received an order from the National Company Law Tribunal (NCLT), Mumbai bench, allowing the withdrawal of its Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated as a result of a case filed by Mr. Roshen Chordiya, the Interim Resolution Professional, against Cian Healthcare Ltd. However, due to a settlement between the parties before the constitution of the Committee of Creditors (CoC), the CIRP has been withdrawn. This development is noteworthy as it signifies a resolution in the corporate insolvency proceedings of Cian Healthcare Ltd.
Key Highlights
- Cian Healthcare Ltd's CIRP has been withdrawn by the NCLT, Mumbai bench.
- The withdrawal is based on an order dated 20th June, 2024.
- The CIRP was initiated due to a case filed by Mr. Roshen Chordiya, the Interim Resolution Professional.
- The proceedings were withdrawn due to a settlement between the parties before the constitution of the Committee of Creditors (CoC).
- This development is significant in the context of corporate insolvency resolution processes.