Union Roadways Corporation initiated a Corporate Insolvency Resolution Process (CIRP) against Simplex Infrastructures Ltd. by filing a CP under Section 9 of the IBC. The hearing was held on March 13, 2020, before the NCLT Kolkata Bench. Counsels representing both the Operational Creditor (Union Roadways Corporation) and the Corporate Debtor (Simplex Infrastructures Ltd.) were present. A joint submission was made stating that the matter had been settled outside of the Tribunal. Consequently, the Operational Creditor sought permission to withdraw the CP, which was granted by the Tribunal, leading to the disposal of the CP as withdrawn.

Union Roadways Corporation initiated a Corporate Insolvency Resolution Process (CIRP) against Simplex Infrastructures Ltd. by filing a CP under Section 9 of the IBC. The hearing was held on March 13, 2020, before the NCLT Kolkata Bench. Counsels representing both the Operational Creditor (Union Roadways Corporation) and the Corporate Debtor (Simplex Infrastructures Ltd.) were present. A joint submission was made stating that the matter had been settled outside of the Tribunal. Consequently, the Operational Creditor sought permission to withdraw the CP, which was granted by the Tribunal, leading to the disposal of the CP as withdrawn.