ABB India Ltd, the Operational Creditor, initiated proceedings against Annapurna Constructions and Transmissions Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. During the proceedings, both parties reached a settlement outside the Tribunal. A joint memo reporting this settlement was filed before the Tribunal. Consequently, both counsels requested the Tribunal to dispose of the Corporate Insolvency Resolution Process (CIRP) application.

ABB India Ltd, the Operational Creditor, initiated proceedings against Annapurna Constructions and Transmissions Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. During the proceedings, both parties reached a settlement outside the Tribunal. A joint memo reporting this settlement was filed before the Tribunal. Consequently, both counsels requested the Tribunal to dispose of the Corporate Insolvency Resolution Process (CIRP) application.