Svaryu Energy Ltd., the Corporate Debtor, filed an appeal against an order that admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, which was filed by an Operational Creditor. The Corporate Debtor sought a stay on the proceedings initiated by the impugned order. Counsel for the Appellant informed the National Company Law Appellate Tribunal (NCLAT) that the parties had reached a settlement agreement on January 3, 2025. Following this agreement, an application under Section 12A of the Code was filed on January 14, 2025, seeking withdrawal of the insolvency proceedings. The application under Section 12A had not yet been listed for hearing due to a holiday, but it was expected to be listed in the near future. The Appellant requested that

Svaryu Energy Ltd., the Corporate Debtor, filed an appeal against an order that admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, which was filed by an Operational Creditor. The Corporate Debtor sought a stay on the proceedings initiated by the impugned order. Counsel for the Appellant informed the National Company Law Appellate Tribunal (NCLAT) that the parties had reached a settlement agreement on January 3, 2025. Following this agreement, an application under Section 12A of the Code was filed on January 14, 2025, seeking withdrawal of the insolvency proceedings. The application under Section 12A had not yet been listed for hearing due to a holiday, but it was expected to be listed in the near future. The Appellant requested that