An application was filed under Section 12(A) of the Insolvency and Bankruptcy Code to withdraw the CIRP against SKM Steels Ltd. The application was filed by the IRP after the CIRP commencement order was issued on 2019-11-18. Public advertisement was issued on 2019-12-11, but no claims were received, and the COC was not constituted. The IRP submitted that the CIRP costs have been paid in full. The court considered the application and submissions and was satisfied that the application should be allowed. The CIRP was initiated against the Corporate Debtor. The IRP is discharged from his role and the Board of Directors of the Corporate Debtor is restored to its original position. The CIRP cost of Rs. 1,08,000/- has been paid.

An application was filed under Section 12(A) of the Insolvency and Bankruptcy Code to withdraw the CIRP against SKM Steels Ltd. The application was filed by the IRP after the CIRP commencement order was issued on 2019-11-18. Public advertisement was issued on 2019-12-11, but no claims were received, and the COC was not constituted. The IRP submitted that the CIRP costs have been paid in full. The court considered the application and submissions and was satisfied that the application should be allowed. The CIRP was initiated against the Corporate Debtor. The IRP is discharged from his role and the Board of Directors of the Corporate Debtor is restored to its original position. The CIRP cost of Rs. 1,08,000/- has been paid.