Omega Finvest LLP initiated a Corporate Insolvency Resolution Process (CIRP) against Direct News Pvt Ltd. A joint application was filed under Rule 11 of NCLT Rules, 2016, seeking withdrawal of the petition (IB-1478(PB)/2019) because the parties settled their disputes amicably. The CIRP was initiated on 30.09.2019. The Interim Resolution Professional (IRP), Sanjeev Gupta, confirmed receiving Rs. 1,03,316/- towards full payment of CIRP costs. The settlement deed was placed on record. The court considered the Supreme Court's view in Swiss Ribbons Pvt. Ltd. v. Union of India and Ors. regarding withdrawal of petitions.

Omega Finvest LLP initiated a Corporate Insolvency Resolution Process (CIRP) against Direct News Pvt Ltd. A joint application was filed under Rule 11 of NCLT Rules, 2016, seeking withdrawal of the petition (IB-1478(PB)/2019) because the parties settled their disputes amicably. The CIRP was initiated on 30.09.2019. The Interim Resolution Professional (IRP), Sanjeev Gupta, confirmed receiving Rs. 1,03,316/- towards full payment of CIRP costs. The settlement deed was placed on record. The court considered the Supreme Court's view in Swiss Ribbons Pvt. Ltd. v. Union of India and Ors. regarding withdrawal of petitions.