Spectrum Stock Service Pvt. Ltd. initiated a corporate insolvency resolution process against Shree Hanuman Sugar & Industries Ltd. under Section 9 of the IBC. During the proceedings before the NCLT Kolkata Bench, both parties, represented by their respective counsels, informed the court that they had reached a settlement. The corporate debtor's counsel submitted a letter confirming the settlement. Consequently, the operational creditor sought permission to withdraw the insolvency application.

Spectrum Stock Service Pvt. Ltd. initiated a corporate insolvency resolution process against Shree Hanuman Sugar & Industries Ltd. under Section 9 of the IBC. During the proceedings before the NCLT Kolkata Bench, both parties, represented by their respective counsels, informed the court that they had reached a settlement. The corporate debtor's counsel submitted a letter confirming the settlement. Consequently, the operational creditor sought permission to withdraw the insolvency application.