M/s. Vikas Ecotech Limited faced an insolvency petition filed by an operational creditor, Kumar Arch Tech Pvt. Ltd., under Section 9 of the IBC. The petition, CP (IB) No. 552/9/NCLT/AHM/2018, was admitted on March 29, 2018. After the admission, the corporate debtor settled the outstanding amount with the operational creditor through two demand drafts, leading to a settlement agreement executed on April 5, 2019. The operational creditor then filed an application to withdraw the insolvency petition. The IRP, Mr. Kiran C. Shah, was appointed but the Committee of Creditors (CoC) was not yet formed. The court noted that the corporate debtor had cleared the total outstanding amount during the intervening period after the petition was admitted. The court considered the

M/s. Vikas Ecotech Limited faced an insolvency petition filed by an operational creditor, Kumar Arch Tech Pvt. Ltd., under Section 9 of the IBC. The petition, CP (IB) No. 552/9/NCLT/AHM/2018, was admitted on March 29, 2018. After the admission, the corporate debtor settled the outstanding amount with the operational creditor through two demand drafts, leading to a settlement agreement executed on April 5, 2019. The operational creditor then filed an application to withdraw the insolvency petition. The IRP, Mr. Kiran C. Shah, was appointed but the Committee of Creditors (CoC) was not yet formed. The court noted that the corporate debtor had cleared the total outstanding amount during the intervening period after the petition was admitted. The court considered the