An application was filed under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking withdrawal of the main IB application. The initiation of the Corporate Insolvency Resolution Process (CIRP) order had been passed on June 23, 2022. The parties had entered into a settlement by executing a settlement deed on June 28, 2022, and Form-FA, also dated June 28, 2022, was annexed with the application. The IRP stated that the public announcement had not yet been made, no claims had been received, and no Committee of Creditors (CoC) had been constituted. The IRP had not taken any further steps to take possession of assets and documents of the corporate debtor.

An application was filed under Section 12A of the Insolvency and Bankruptcy Code (IBC), 2016, seeking withdrawal of the main IB application. The initiation of the Corporate Insolvency Resolution Process (CIRP) order had been passed on June 23, 2022. The parties had entered into a settlement by executing a settlement deed on June 28, 2022, and Form-FA, also dated June 28, 2022, was annexed with the application. The IRP stated that the public announcement had not yet been made, no claims had been received, and no Committee of Creditors (CoC) had been constituted. The IRP had not taken any further steps to take possession of assets and documents of the corporate debtor.