The Corporate Insolvency Resolution Process (CIRP) was initiated against Sonhira Stationers Private Limited. Following a public announcement, only one claim was received from M/s Puthawala & Co for Rs. 54,61,408. The applicant sought to withdraw the application under Section 12A of the IBC. The Committee of Creditors (CoC) approved the withdrawal with 100% voting share. The applicant provided a Demand Draft of Rs. 3,00,000 to cover the CIRP costs. The court initially allowed the withdrawal subject to the payment of costs of Rs. 1,00,000 to the Prime Minister's National Relief Fund. The applicant complied with the order by paying the costs, leading to the dismissal of the Company Petition.

The Corporate Insolvency Resolution Process (CIRP) was initiated against Sonhira Stationers Private Limited. Following a public announcement, only one claim was received from M/s Puthawala & Co for Rs. 54,61,408. The applicant sought to withdraw the application under Section 12A of the IBC. The Committee of Creditors (CoC) approved the withdrawal with 100% voting share. The applicant provided a Demand Draft of Rs. 3,00,000 to cover the CIRP costs. The court initially allowed the withdrawal subject to the payment of costs of Rs. 1,00,000 to the Prime Minister's National Relief Fund. The applicant complied with the order by paying the costs, leading to the dismissal of the Company Petition.