Industrial Engineering Works vs Sky Build Pvt Ltd

This is an application filed by the Applicant being the Resolution Professional, upon perusal of the application it is observed that the CIRP was initiated against the Corporate Debtor vide order dt. 13.12.2019. The applicant submits that upon invitation of claims, only one claim i.e. of the original petitioner was received and thus the CoC was formed with only one member. Thereafter, in May 2020 the managing director of the Corporate Debtor Mr. Suresh Shrrof passed away therefore the applicant could not procure any further details about the Corporate Debtor. The CoC during the 3rd meeting took note of the aforesaid facts and resolved for withdrawal of CIRP of the Corporate Debtor by 100% vote. Accordingly, the applicant filed IA 2397/2020 under section 12 A of the code which was subsequently dismissed for want of prosecution as the applicant was suffering from ill health. In the above backdrop the applicant has filed the present application afresh for withdrawal of the CIRP of the Corporate Debtor i.e. M/s Sky built Pvt. Ltd. Taking note of the aforesaid circumstances we condone the delay in filing the aforesaid application and set the Corporate Debtor out of the rigor of the CIRP. The aforesaid Interlocutory application 589/2023 is allowed and Company Petition 1063 of 2019 stands closed. File be consigned to record.