TPI Industries Pvt. Ltd., the Operational Creditor, initiated insolvency proceedings against Impex Ferro Tech Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the Corporate Debtor's counsel informed the court that the matter was being settled with the Operational Creditor. The Corporate Debtor handed over two demand drafts, numbered 944125 and 944126, dated 2022-04-01 and 2022-04-04 respectively, for Rs. 2,32,800/- and Rs. 48,926/-, covering the entire sum claimed in the company petition. Upon receiving the demand drafts, the Operational Creditor's counsel requested to withdraw the present proceedings. The court then dismissed the case as withdrawn.

TPI Industries Pvt. Ltd., the Operational Creditor, initiated insolvency proceedings against Impex Ferro Tech Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the Corporate Debtor's counsel informed the court that the matter was being settled with the Operational Creditor. The Corporate Debtor handed over two demand drafts, numbered 944125 and 944126, dated 2022-04-01 and 2022-04-04 respectively, for Rs. 2,32,800/- and Rs. 48,926/-, covering the entire sum claimed in the company petition. Upon receiving the demand drafts, the Operational Creditor's counsel requested to withdraw the present proceedings. The court then dismissed the case as withdrawn.