Samskar Financial Services Pvt. Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against Votary Trading Pvt. Ltd. via CP(IB) No. 735/KB/2019. Subsequently, a settlement was reached between Samskar Financial Services Pvt. Ltd. (the Operational Creditor) and Votary Trading Pvt. Ltd. (the Corporate Debtor). The Resolution Professional (RP) filed an application under Section 12A of the Insolvency and Bankruptcy Code (IBC) to withdraw the CIRP. The Committee of Creditors (CoC) approved the withdrawal with a 100% vote share. The RP's fees and costs were already discharged. The court considered the settlement and the CoC's approval as sufficient grounds for allowing the withdrawal of the CIRP.

Samskar Financial Services Pvt. Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against Votary Trading Pvt. Ltd. via CP(IB) No. 735/KB/2019. Subsequently, a settlement was reached between Samskar Financial Services Pvt. Ltd. (the Operational Creditor) and Votary Trading Pvt. Ltd. (the Corporate Debtor). The Resolution Professional (RP) filed an application under Section 12A of the Insolvency and Bankruptcy Code (IBC) to withdraw the CIRP. The Committee of Creditors (CoC) approved the withdrawal with a 100% vote share. The RP's fees and costs were already discharged. The court considered the settlement and the CoC's approval as sufficient grounds for allowing the withdrawal of the CIRP.