Indian Agro and Food Industries Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Gouthami Hatcheries Pvt Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was registered as CP (IB) No. 33/7/HDB/2020. Subsequently, IA No. 664/2021 was filed by the Resolution Professional under Section 12-A, seeking withdrawal of the CIRP. The basis for the withdrawal was an amicable settlement reached between Indian Agro and Food Industries Ltd (Financial Creditor) and Gouthami Hatcheries Pvt Ltd (Corporate Debtor). The settlement was documented in a memo submitted to the court. The key fact is the amicable settlement between the parties, which led to the application for withdrawal of the CIRP.

Indian Agro and Food Industries Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Gouthami Hatcheries Pvt Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was registered as CP (IB) No. 33/7/HDB/2020. Subsequently, IA No. 664/2021 was filed by the Resolution Professional under Section 12-A, seeking withdrawal of the CIRP. The basis for the withdrawal was an amicable settlement reached between Indian Agro and Food Industries Ltd (Financial Creditor) and Gouthami Hatcheries Pvt Ltd (Corporate Debtor). The settlement was documented in a memo submitted to the court. The key fact is the amicable settlement between the parties, which led to the application for withdrawal of the CIRP.