The Corporate Insolvency Resolution Process (CIRP) was initiated against Kundan Industries Limited on 2024-01-02. The Operational Creditor and the Corporate Debtor entered into a settlement agreement on 2024-01-17, where the Operational Creditor agreed to accept Rs.2,50,00,000/- for full settlement of its claim. A Committee of Creditors had not been formed. The Operational Creditor submitted Form FA on 2024-01-19 for withdrawal of the CIRP. No CIRP costs were incurred. The Applicant confirmed that all expenses incurred during the CIRP had been settled. The Interlocutory Application was filed for withdrawal of the CIRP. The moratorium was declared under Section 14 of the Insolvency and Bankruptcy Code, 2016. The main Company Petition was CP (IB) No. 153 of 2023.

The Corporate Insolvency Resolution Process (CIRP) was initiated against Kundan Industries Limited on 2024-01-02. The Operational Creditor and the Corporate Debtor entered into a settlement agreement on 2024-01-17, where the Operational Creditor agreed to accept Rs.2,50,00,000/- for full settlement of its claim. A Committee of Creditors had not been formed. The Operational Creditor submitted Form FA on 2024-01-19 for withdrawal of the CIRP. No CIRP costs were incurred. The Applicant confirmed that all expenses incurred during the CIRP had been settled. The Interlocutory Application was filed for withdrawal of the CIRP. The moratorium was declared under Section 14 of the Insolvency and Bankruptcy Code, 2016. The main Company Petition was CP (IB) No. 153 of 2023.