The key facts are as follows: IA (IBC) No. 267 & 268/2021 were filed in CP (IB) No. 149/7/HDB/2020. The Corporate Debtor is EBC Bearing (India) Pvt Ltd. The Financial Creditor is Info Tech Infin and Trading Pvt Ltd. The IRP filed IA 268/2021 for disposal of the main CP due to a settlement between the Financial Creditor and the Corporate Debtor. The COC was not constituted. The parties used inherent jurisdiction under Rule 11 of NCLT Rules, 2016, to settle the dispute. The relevance of these facts lies in demonstrating the procedural steps taken to settle the insolvency proceedings before the constitution of the COC, leading to the disposal of the main CP and the release of the Corporate Debtor from CIRP.

The key facts are as follows: IA (IBC) No. 267 & 268/2021 were filed in CP (IB) No. 149/7/HDB/2020. The Corporate Debtor is EBC Bearing (India) Pvt Ltd. The Financial Creditor is Info Tech Infin and Trading Pvt Ltd. The IRP filed IA 268/2021 for disposal of the main CP due to a settlement between the Financial Creditor and the Corporate Debtor. The COC was not constituted. The parties used inherent jurisdiction under Rule 11 of NCLT Rules, 2016, to settle the dispute. The relevance of these facts lies in demonstrating the procedural steps taken to settle the insolvency proceedings before the constitution of the COC, leading to the disposal of the main CP and the release of the Corporate Debtor from CIRP.