The key facts are as follows: An application was filed under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking to withdraw the CIRP petition CP (IB) No. 172/9/AMR/2019. The applicant is Mr. Rajesh Chhaparia, the IRP of Krebs Biochemicals and Industries Limited. The counsel for the petitioner stated that full payment had been made to the creditors by the suspended Board of Directors. Form A was filed to that effect. The court allowed the withdrawal of the CIRP petition. The relevance of these facts is that they demonstrate the fulfillment of the conditions for withdrawal under Section 12A, leading to the termination of the CIRP.

The key facts are as follows: An application was filed under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking to withdraw the CIRP petition CP (IB) No. 172/9/AMR/2019. The applicant is Mr. Rajesh Chhaparia, the IRP of Krebs Biochemicals and Industries Limited. The counsel for the petitioner stated that full payment had been made to the creditors by the suspended Board of Directors. Form A was filed to that effect. The court allowed the withdrawal of the CIRP petition. The relevance of these facts is that they demonstrate the fulfillment of the conditions for withdrawal under Section 12A, leading to the termination of the CIRP.