Omega Finvest LLP filed an insolvency petition (IB-1478(PB)/2019) against Direct News Pvt Ltd. under Section 9 of the Insolvency & Bankruptcy Code. The Corporate Insolvency Resolution Process (CIRP) was initiated on 30.09.2019. Subsequently, Omega Finvest LLP and Direct News Pvt Ltd. reached an amicable settlement. A joint application (CA-2102(PB)/2019) was filed under Rule 11 of NCLT Rules, 2016, seeking withdrawal of the insolvency petition. The Interim Resolution Professional (IRP), Sanjeev Gupta, confirmed receiving Rs. 1,03,316/- as full and final payment for his dues related to the CIRP. The court considered the settlement, the IRP's statement, and the Supreme Court's judgment in Swiss Ribbons Pvt. Ltd. & Anr. v. Union of India and Ors. The relevance of

Omega Finvest LLP filed an insolvency petition (IB-1478(PB)/2019) against Direct News Pvt Ltd. under Section 9 of the Insolvency & Bankruptcy Code. The Corporate Insolvency Resolution Process (CIRP) was initiated on 30.09.2019. Subsequently, Omega Finvest LLP and Direct News Pvt Ltd. reached an amicable settlement. A joint application (CA-2102(PB)/2019) was filed under Rule 11 of NCLT Rules, 2016, seeking withdrawal of the insolvency petition. The Interim Resolution Professional (IRP), Sanjeev Gupta, confirmed receiving Rs. 1,03,316/- as full and final payment for his dues related to the CIRP. The court considered the settlement, the IRP's statement, and the Supreme Court's judgment in Swiss Ribbons Pvt. Ltd. & Anr. v. Union of India and Ors. The relevance of