Quazar Infrastructure Pvt. Ltd. initiated insolvency proceedings against Minarch Overseas Pvt. Ltd. An Interim Resolution Professional (IRP) was appointed. Subsequently, the parties reached an amicable settlement on July 14, 2021. The IRP filed an application under Section 12-A of the IBC seeking withdrawal of the insolvency application. The IRP confirmed that all fees and CIRP costs were paid. The application for withdrawal was supported by the settlement agreement and Form-AA. The court considered these facts and allowed the withdrawal of the insolvency application.

Quazar Infrastructure Pvt. Ltd. initiated insolvency proceedings against Minarch Overseas Pvt. Ltd. An Interim Resolution Professional (IRP) was appointed. Subsequently, the parties reached an amicable settlement on July 14, 2021. The IRP filed an application under Section 12-A of the IBC seeking withdrawal of the insolvency application. The IRP confirmed that all fees and CIRP costs were paid. The application for withdrawal was supported by the settlement agreement and Form-AA. The court considered these facts and allowed the withdrawal of the insolvency application.