The key facts are as follows: An application (MA 3494/2019) was filed under Section 12A of the I&B Code. An order dated 2019-09-26 initiated the proceeding, appointing Mr. Pankaj Sham Joshi as IRP. Evidence of debt settlement between the Debtor and Creditor was submitted, confirming payment to the sole Financial Creditor. The Debtor agreed to pay CIRP costs and professional fees to the IRP. The conditions specified under the I&B Code were complied with. These facts are relevant because they demonstrate the process of initiating insolvency proceedings, the subsequent settlement of debt, and the Debtor's commitment to cover associated costs, leading to the consideration of the application under Section 12A for withdrawal of the insolvency proceedings.

The key facts are as follows: An application (MA 3494/2019) was filed under Section 12A of the I&B Code. An order dated 2019-09-26 initiated the proceeding, appointing Mr. Pankaj Sham Joshi as IRP. Evidence of debt settlement between the Debtor and Creditor was submitted, confirming payment to the sole Financial Creditor. The Debtor agreed to pay CIRP costs and professional fees to the IRP. The conditions specified under the I&B Code were complied with. These facts are relevant because they demonstrate the process of initiating insolvency proceedings, the subsequent settlement of debt, and the Debtor's commitment to cover associated costs, leading to the consideration of the application under Section 12A for withdrawal of the insolvency proceedings.