Dalmia Group Holdings, the Financial Creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2017 against Lokhandwala Kataria Construction Private Limited, the Corporate Debtor. This application was admitted by an order dated September 19, 2019, issued by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. This admission initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. Aliasgar Mohammed Lokhandwala, the Appellant Director/Shareholder, informed the National Company Law Appellate Tribunal (NCLAT) that a settlement had been reached with the Financial Creditor on October 10, 2019. This settlement occurred before the constitution of the Committee of Creditors. The written

Dalmia Group Holdings, the Financial Creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2017 against Lokhandwala Kataria Construction Private Limited, the Corporate Debtor. This application was admitted by an order dated September 19, 2019, issued by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. This admission initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. Aliasgar Mohammed Lokhandwala, the Appellant Director/Shareholder, informed the National Company Law Appellate Tribunal (NCLAT) that a settlement had been reached with the Financial Creditor on October 10, 2019. This settlement occurred before the constitution of the Committee of Creditors. The written