Shree Balaji Metal & Alloys filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Electra Global Resources Pvt Ltd. An application was filed by the Resolution Professional (RP) for withdrawal of the petition before the formation of the Committee of Creditors (COC). The IRP had previously stated that the COC had not been constituted and no claims were received. The applicant's counsel submitted Form FA for withdrawal. The court considered the application and allowed the withdrawal, recalling the admission order and closing the company petition. The IRP was discharged and directed to hand over the company to the erstwhile directors.

Shree Balaji Metal & Alloys filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Electra Global Resources Pvt Ltd. An application was filed by the Resolution Professional (RP) for withdrawal of the petition before the formation of the Committee of Creditors (COC). The IRP had previously stated that the COC had not been constituted and no claims were received. The applicant's counsel submitted Form FA for withdrawal. The court considered the application and allowed the withdrawal, recalling the admission order and closing the company petition. The IRP was discharged and directed to hand over the company to the erstwhile directors.