Quippo Infrastructure Ltd. initiated a corporate insolvency resolution process against Dascon Sourav Commercial Pvt. Ltd. The case was listed before the National Company Law Tribunal (NCLT), Kolkata Bench. During the proceedings, both the Operational Creditor (Quippo Infrastructure Ltd.) and the Corporate Debtor (Dascon Sourav Commercial Pvt. Ltd.) jointly submitted that they had reached a settlement outside the Tribunal. Consequently, the Operational Creditor filed an application (CA(IB) No. 1197/KB/2019) under Rule 11 of the NCLT Rules, 2016, seeking withdrawal of the Corporate Petition. The Interim Resolution Professional (IRP) confirmed that resolution costs and fees had been paid. The key fact is the out-of-court settlement, leading to the withdrawal application.

Quippo Infrastructure Ltd. initiated a corporate insolvency resolution process against Dascon Sourav Commercial Pvt. Ltd. The case was listed before the National Company Law Tribunal (NCLT), Kolkata Bench. During the proceedings, both the Operational Creditor (Quippo Infrastructure Ltd.) and the Corporate Debtor (Dascon Sourav Commercial Pvt. Ltd.) jointly submitted that they had reached a settlement outside the Tribunal. Consequently, the Operational Creditor filed an application (CA(IB) No. 1197/KB/2019) under Rule 11 of the NCLT Rules, 2016, seeking withdrawal of the Corporate Petition. The Interim Resolution Professional (IRP) confirmed that resolution costs and fees had been paid. The key fact is the out-of-court settlement, leading to the withdrawal application.