Vinayak Trading Corporation initiated a CIRP against Nandana Metals and Mining Ltd. An application, IA No. 1296/2024, was filed in C.P. (IB)/1062(MB)2023. The IRP informed the court that the Committee of Creditors (CoC) was not constituted. The debt claim in the application was settled. Consequently, a request was made to withdraw the CIRP. The court considered this submission and allowed the withdrawal. The Corporate Debtor, Nandana Metals and Mining Ltd, was released from the rigors of the CIRP, and the moratorium under Section 14 of the Code ceased to be in operation. The IRP/RP was directed to hand over the records and custody of assets to the suspended board, which was directed to settle the IRP's fees.

Vinayak Trading Corporation initiated a CIRP against Nandana Metals and Mining Ltd. An application, IA No. 1296/2024, was filed in C.P. (IB)/1062(MB)2023. The IRP informed the court that the Committee of Creditors (CoC) was not constituted. The debt claim in the application was settled. Consequently, a request was made to withdraw the CIRP. The court considered this submission and allowed the withdrawal. The Corporate Debtor, Nandana Metals and Mining Ltd, was released from the rigors of the CIRP, and the moratorium under Section 14 of the Code ceased to be in operation. The IRP/RP was directed to hand over the records and custody of assets to the suspended board, which was directed to settle the IRP's fees.