The Corporate Insolvency Resolution Process (CIRP) was initiated against KDG Projects Pvt Ltd. The corporate debtor was admitted into CIRP on 2020-02-17. Subsequently, the parties settled the dispute. IA(IB) 402/KB/20 was filed under Rule 11 of NCLT Rules for disposal of the CP based on the settlement. The court considered the settlement and allowed the application for disposal of the CP, subject to the corporate debtor depositing Rs. 50,000 with the Registrar, NCLT Escrow Account, Kolkata Bench, Kolkata, and paying the fees of the IRP. The key fact is the settlement between the parties after the initiation of CIRP, which led to the court's decision to dispose of the CP and IA.

The Corporate Insolvency Resolution Process (CIRP) was initiated against KDG Projects Pvt Ltd. The corporate debtor was admitted into CIRP on 2020-02-17. Subsequently, the parties settled the dispute. IA(IB) 402/KB/20 was filed under Rule 11 of NCLT Rules for disposal of the CP based on the settlement. The court considered the settlement and allowed the application for disposal of the CP, subject to the corporate debtor depositing Rs. 50,000 with the Registrar, NCLT Escrow Account, Kolkata Bench, Kolkata, and paying the fees of the IRP. The key fact is the settlement between the parties after the initiation of CIRP, which led to the court's decision to dispose of the CP and IA.