The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Aarti Suitings Private Limited based on an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted vide order dated 17.06.2021. Subsequently, an application was filed under Section 12A of the IBC, 2016, seeking the withdrawal of the ongoing CIRP. The Resolution Professional (RP) received Form FA dated 23.01.2023, indicating the intention to withdraw the CIRP. The Committee of Creditors (CoC), holding 97.34% of the voting rights, approved the withdrawal of the CIRP. This approval by a substantial majority of the CoC members is a critical fact influencing the decision to allow the withdrawal.

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Aarti Suitings Private Limited based on an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted vide order dated 17.06.2021. Subsequently, an application was filed under Section 12A of the IBC, 2016, seeking the withdrawal of the ongoing CIRP. The Resolution Professional (RP) received Form FA dated 23.01.2023, indicating the intention to withdraw the CIRP. The Committee of Creditors (CoC), holding 97.34% of the voting rights, approved the withdrawal of the CIRP. This approval by a substantial majority of the CoC members is a critical fact influencing the decision to allow the withdrawal.