Vidhi Goel filed an appeal against an order dated 15.05.2023, where the Adjudicating Authority admitted a Section 7 application. Vidhi Goel is the appellant, and State Bank of India & Ors. are the respondents. The appellant and respondent jointly filed I.A. No. 3656 of 2023 to bring on record a settlement agreement dated 25.07.2023. Phoenix Arc Pvt. Ltd. restructured the debt of the appellant. The restructuring of the debt led the court to believe that the basis for the Section 7 application no longer existed. The settlement agreement between the parties is a key fact, as it led to the closure of the CIRP and the release of the Corporate Debtor.

Vidhi Goel filed an appeal against an order dated 15.05.2023, where the Adjudicating Authority admitted a Section 7 application. Vidhi Goel is the appellant, and State Bank of India & Ors. are the respondents. The appellant and respondent jointly filed I.A. No. 3656 of 2023 to bring on record a settlement agreement dated 25.07.2023. Phoenix Arc Pvt. Ltd. restructured the debt of the appellant. The restructuring of the debt led the court to believe that the basis for the Section 7 application no longer existed. The settlement agreement between the parties is a key fact, as it led to the closure of the CIRP and the release of the Corporate Debtor.