Cholamandalm Investment & Finance Co. Ltd initiated proceedings against Sumeet Industries Ltd under CP(IB) 159 of 2020. The case was presented before the Ahmedabad Bench of the National Company Law Tribunal (NCLT). During the hearing on October 21, 2020, Mr. Mandeep Singh, the learned counsel representing the financial creditor, informed the court that the matter had been settled and that he would be filing pursis. Based on this submission, the court disposed of the matter as withdrawn, allowing the applicant the liberty to revive the case if required. The case was related to Section 7 of the Insolvency and Bankruptcy Code, 2016.

Cholamandalm Investment & Finance Co. Ltd initiated proceedings against Sumeet Industries Ltd under CP(IB) 159 of 2020. The case was presented before the Ahmedabad Bench of the National Company Law Tribunal (NCLT). During the hearing on October 21, 2020, Mr. Mandeep Singh, the learned counsel representing the financial creditor, informed the court that the matter had been settled and that he would be filing pursis. Based on this submission, the court disposed of the matter as withdrawn, allowing the applicant the liberty to revive the case if required. The case was related to Section 7 of the Insolvency and Bankruptcy Code, 2016.