Kunal Agarwal filed an application against M/s SDS Infratech Pvt. Ltd. seeking initiation of CIRP. An order was passed initiating CIRP on 2021-05-12. Subsequently, the parties reached a settlement on 2021-05-10 and filed an application under Section 12A of the Code for withdrawal of the CIRP. The IRP confirmed that the CoC was not constituted and no claims were received. The IRP also confirmed that all expenses and fees were paid. The relevance of the settlement is that it provides a basis for withdrawing the CIRP. The fact that the CoC was not constituted and no claims were received simplifies the withdrawal process.

Kunal Agarwal filed an application against M/s SDS Infratech Pvt. Ltd. seeking initiation of CIRP. An order was passed initiating CIRP on 2021-05-12. Subsequently, the parties reached a settlement on 2021-05-10 and filed an application under Section 12A of the Code for withdrawal of the CIRP. The IRP confirmed that the CoC was not constituted and no claims were received. The IRP also confirmed that all expenses and fees were paid. The relevance of the settlement is that it provides a basis for withdrawing the CIRP. The fact that the CoC was not constituted and no claims were received simplifies the withdrawal process.