Kamal Mani Gulati filed an appeal against an order dated March 21, 2023, which admitted a Section 7 application by Financial Creditor-Respondent No. 2. The Committee of Creditors (CoC) was already formed, with Respondent No. 2 as the sole member representing 100% of the CoC. An I.A. No. 3357 of 2023 was filed to record a settlement between the Financial Creditor and the Suspended Director. The Financial Creditor agreed to accept the settlement amount, including expenses and CIRP costs. The CoC approved the settlement on July 18, 2023. The appellant had deposited an amount under the order of this Tribunal dated 20th April, 2023.

Kamal Mani Gulati filed an appeal against an order dated March 21, 2023, which admitted a Section 7 application by Financial Creditor-Respondent No. 2. The Committee of Creditors (CoC) was already formed, with Respondent No. 2 as the sole member representing 100% of the CoC. An I.A. No. 3357 of 2023 was filed to record a settlement between the Financial Creditor and the Suspended Director. The Financial Creditor agreed to accept the settlement amount, including expenses and CIRP costs. The CoC approved the settlement on July 18, 2023. The appellant had deposited an amount under the order of this Tribunal dated 20th April, 2023.