Sterling and Wilson Private Ltd filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Owens-Corning India Private Ltd. The matter was taken up through virtual hearing. The counsels for both parties confirmed a settlement agreement dated 2020-12-30, indicating an amicable resolution outside of court. The petitioner, Sterling and Wilson Private Ltd, filed an affidavit for withdrawal dated 2021-01-13, authorized by a Board Resolution dated 2019-07-24. Owens-Corning India Private Ltd, the Corporate Debtor, paid approximately Rs. 4.13 Crore against a claim of approximately Rs. 4.41 Crore. The petitioner sought permission to withdraw the application CP(IB)3440(MB)/2019, which the court granted.

Sterling and Wilson Private Ltd filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Owens-Corning India Private Ltd. The matter was taken up through virtual hearing. The counsels for both parties confirmed a settlement agreement dated 2020-12-30, indicating an amicable resolution outside of court. The petitioner, Sterling and Wilson Private Ltd, filed an affidavit for withdrawal dated 2021-01-13, authorized by a Board Resolution dated 2019-07-24. Owens-Corning India Private Ltd, the Corporate Debtor, paid approximately Rs. 4.13 Crore against a claim of approximately Rs. 4.41 Crore. The petitioner sought permission to withdraw the application CP(IB)3440(MB)/2019, which the court granted.