The Interim Resolution Professional (IRP) filed IA 547/2023 seeking permission to withdraw the main Company Petition under Section 12(a) of the Insolvency & Bankruptcy Code (IBC) read with regulation 30A. The Corporate Debtor, NVM Plastic Private Limited, and the Operational Creditor settled the matter amicably out of court. The Corporate Debtor paid Rs. 17,50,000/- to the Operational Creditor as a full and final settlement of the default amount. The Company Petition against the Corporate Debtor was admitted on 06.01.2023. The Corporate Debtor also agreed to pay Rs. 1,00,000/- towards the Resolution Professional's fees and Rs. 5,000/- towards pocket expenses. The Corporate Debtor was directed to pay Rs. 1,00,000/- into the Bharatkosh account.

The Interim Resolution Professional (IRP) filed IA 547/2023 seeking permission to withdraw the main Company Petition under Section 12(a) of the Insolvency & Bankruptcy Code (IBC) read with regulation 30A. The Corporate Debtor, NVM Plastic Private Limited, and the Operational Creditor settled the matter amicably out of court. The Corporate Debtor paid Rs. 17,50,000/- to the Operational Creditor as a full and final settlement of the default amount. The Company Petition against the Corporate Debtor was admitted on 06.01.2023. The Corporate Debtor also agreed to pay Rs. 1,00,000/- towards the Resolution Professional's fees and Rs. 5,000/- towards pocket expenses. The Corporate Debtor was directed to pay Rs. 1,00,000/- into the Bharatkosh account.