The CIRP was initiated against Alam Industries India Ltd. on April 1, 2019, and a moratorium was declared. An IRP was appointed. Subsequently, the applicant (Gagan Bothra) and the corporate debtor (Alam Industries India Ltd.) reached a settlement. The Resolution Professional filed a report on April 22, 2019, reflecting this settlement. The Resolution Professional had not made any public announcement. The remuneration of the Resolution Professional was paid. Based on the settlement, a request was made to recall the order initiating the CIRP. The court then recalled the order dated April 1, 2019, lifted the moratorium, relieved the IRP, and allowed the corporate debtor to resume normal business. The CP was allowed to be withdrawn and dismissed.

The CIRP was initiated against Alam Industries India Ltd. on April 1, 2019, and a moratorium was declared. An IRP was appointed. Subsequently, the applicant (Gagan Bothra) and the corporate debtor (Alam Industries India Ltd.) reached a settlement. The Resolution Professional filed a report on April 22, 2019, reflecting this settlement. The Resolution Professional had not made any public announcement. The remuneration of the Resolution Professional was paid. Based on the settlement, a request was made to recall the order initiating the CIRP. The court then recalled the order dated April 1, 2019, lifted the moratorium, relieved the IRP, and allowed the corporate debtor to resume normal business. The CP was allowed to be withdrawn and dismissed.