Gayatri Steels filed a Company Petition (CP IB No. 795/ND/2020) against ASPG Infrastructure Pvt. Ltd. under Section 9 of the IBC Code, 2016. Subsequently, a settlement was reached between Gayatri Steels (the Petitioner) and ASPG Infrastructure Pvt. Ltd. (the Corporate Debtor). As part of the settlement, ASPG Infrastructure Pvt. Ltd. paid the entire outstanding amount due to Gayatri Steels. Consequently, Gayatri Steels filed an application under Rule 11 of NCLT to withdraw the Company Petition. The Proxy Counsel for the Applicant submitted that the matter had been amicably settled. The court considered this submission and the settlement agreement.

Gayatri Steels filed a Company Petition (CP IB No. 795/ND/2020) against ASPG Infrastructure Pvt. Ltd. under Section 9 of the IBC Code, 2016. Subsequently, a settlement was reached between Gayatri Steels (the Petitioner) and ASPG Infrastructure Pvt. Ltd. (the Corporate Debtor). As part of the settlement, ASPG Infrastructure Pvt. Ltd. paid the entire outstanding amount due to Gayatri Steels. Consequently, Gayatri Steels filed an application under Rule 11 of NCLT to withdraw the Company Petition. The Proxy Counsel for the Applicant submitted that the matter had been amicably settled. The court considered this submission and the settlement agreement.