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, duly signed by both parties, was filed, indicating that the matter had been settled between them. As part of the settlement, the applicant received Rs.3,25,000.00 (Rupees Three lacs Twenty Five thousand only) towards full and final settlement of their claim. The relevance of these facts is that they demonstrate a resolution of the dispute outside of the formal insolvency process, leading to the withdrawal of 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, duly signed by both parties, was filed, indicating that the matter had been settled between them. As part of the settlement, the applicant received Rs.3,25,000.00 (Rupees Three lacs Twenty Five thousand only) towards full and final settlement of their claim. The relevance of these facts is that they demonstrate a resolution of the dispute outside of the formal insolvency process, leading to the withdrawal of the company petition.