The present application, IA-3804/2024 , was filed under Section 12A of the IBC, 2016, by the Resolution Professional (RP) based on the recommendation of the Committee of Creditors (CoC). The application sought the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor, Indounique Flame Ltd. This move followed an amicable settlement reached between the parties involved in the dispute. The CoC's recommendation for withdrawal was a crucial step in this process. On January 11, 2024, the Tribunal had admitted the petition, C.P. (IB)/635(MB)2023, under Section 7 of the IBC, thereby commencing the CIRP against the Corporate Debtor. Following the admission order, an Interim Resolution Professional (IRP) was appointed, and a

The present application, IA-3804/2024 , was filed under Section 12A of the IBC, 2016, by the Resolution Professional (RP) based on the recommendation of the Committee of Creditors (CoC). The application sought the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor, Indounique Flame Ltd. This move followed an amicable settlement reached between the parties involved in the dispute. The CoC's recommendation for withdrawal was a crucial step in this process. On January 11, 2024, the Tribunal had admitted the petition, C.P. (IB)/635(MB)2023, under Section 7 of the IBC, thereby commencing the CIRP against the Corporate Debtor. Following the admission order, an Interim Resolution Professional (IRP) was appointed, and a