The case involves a corporate insolvency resolution process (CIRP) initiated against Universal Auto Components Pvt. Ltd. by Tirupati International. IA(IB) 445/KB/20 was filed by the corporate debtor seeking disposal of the CP based on a settlement reached between the parties. The court acknowledged the settlement and invoked Rule 11 of NCLT Rules. The corporate debtor was directed to deposit Rs. 50,000/- in the Escrow Account of the Registrar, NCLT, Kolkata Bench, and to pay the IRP fees. Upon compliance, the IAs and CP were disposed of, and the corporate debtor was released from CIRP.

The case involves a corporate insolvency resolution process (CIRP) initiated against Universal Auto Components Pvt. Ltd. by Tirupati International. IA(IB) 445/KB/20 was filed by the corporate debtor seeking disposal of the CP based on a settlement reached between the parties. The court acknowledged the settlement and invoked Rule 11 of NCLT Rules. The corporate debtor was directed to deposit Rs. 50,000/- in the Escrow Account of the Registrar, NCLT, Kolkata Bench, and to pay the IRP fees. Upon compliance, the IAs and CP were disposed of, and the corporate debtor was released from CIRP.