Kkalpana Industries (India) Ltd., the applicant/operational creditor, initiated insolvency proceedings against P. K. Chowdhury & Sons Pvt. Ltd., the respondent/corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016. The respondent remained ex-parte during the proceedings. However, a joint application, signed by both parties, was filed, indicating that the matter had been settled. The applicant received Rs.3,25,000.00 from the respondent as full and final settlement of their claim. This settlement led to the applicant withdrawing the company petition.

Kkalpana Industries (India) Ltd., the applicant/operational creditor, initiated insolvency proceedings against P. K. Chowdhury & Sons Pvt. Ltd., the respondent/corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016. The respondent remained ex-parte during the proceedings. However, a joint application, signed by both parties, was filed, indicating that the matter had been settled. The applicant received Rs.3,25,000.00 from the respondent as full and final settlement of their claim. This settlement led to the applicant withdrawing the company petition.