BSE Limited, an operational creditor, initiated insolvency proceedings against STG Lifecare Limited under IB/1950/ND/2019. BSE Limited, being the sole member of the Committee of Creditors (COC), resolved in its IIIrd COC Meeting on 2020-07-14 to withdraw the insolvency application. An application (IA/3161/2020) was filed under Section 12A of IBC for withdrawal of the insolvency application. The minutes of the COC meeting and the order dated 2020-01-10 admitting the insolvency application were annexed to the application. The IRP had been paid, and no dues were outstanding with respect to the CIRP process. BSE Limited sought exemption from submitting a bank guarantee, which was granted by the court.

BSE Limited, an operational creditor, initiated insolvency proceedings against STG Lifecare Limited under IB/1950/ND/2019. BSE Limited, being the sole member of the Committee of Creditors (COC), resolved in its IIIrd COC Meeting on 2020-07-14 to withdraw the insolvency application. An application (IA/3161/2020) was filed under Section 12A of IBC for withdrawal of the insolvency application. The minutes of the COC meeting and the order dated 2020-01-10 admitting the insolvency application were annexed to the application. The IRP had been paid, and no dues were outstanding with respect to the CIRP process. BSE Limited sought exemption from submitting a bank guarantee, which was granted by the court.