An application was filed for the withdrawal of the CIRP of the Corporate Debtor. The Corporate Debtor's counsel stated that all Financial Creditors, constituting the CoC, have given 100% voting and approved the agenda. The application was moved under Section 12A of the IBC Code. The Resolution Professional stated that the matter has been settled and fees have been paid. The NCLAT had stayed the CoC meeting and noted a compromise between the parties. The parties were directed to relegate to the Tribunal and file an application under Section 12A of the Code. The key fact is the settlement between the parties, leading to the application for withdrawal of the CIRP.

An application was filed for the withdrawal of the CIRP of the Corporate Debtor. The Corporate Debtor's counsel stated that all Financial Creditors, constituting the CoC, have given 100% voting and approved the agenda. The application was moved under Section 12A of the IBC Code. The Resolution Professional stated that the matter has been settled and fees have been paid. The NCLAT had stayed the CoC meeting and noted a compromise between the parties. The parties were directed to relegate to the Tribunal and file an application under Section 12A of the Code. The key fact is the settlement between the parties, leading to the application for withdrawal of the CIRP.