Keshan Trading Corporation, acting as the Operational Creditor, initiated a corporate insolvency resolution process against OM Dhar Engineering Pvt Ltd, the Corporate Debtor, by filing CP(IB) No. 399/9/HDB/2022 under Section 9 of the IBC, 2016. During the proceedings before the NCLT Hyderabad Bench-1, both parties informed the court that they had reached a settlement. A joint memo dated 2023-09-29, along with a copy of the settlement agreement, was submitted to the court. The court took the settlement on record and dismissed the company petition. The key fact is the settlement between the parties, leading to the dismissal of the insolvency petition.

Keshan Trading Corporation, acting as the Operational Creditor, initiated a corporate insolvency resolution process against OM Dhar Engineering Pvt Ltd, the Corporate Debtor, by filing CP(IB) No. 399/9/HDB/2022 under Section 9 of the IBC, 2016. During the proceedings before the NCLT Hyderabad Bench-1, both parties informed the court that they had reached a settlement. A joint memo dated 2023-09-29, along with a copy of the settlement agreement, was submitted to the court. The court took the settlement on record and dismissed the company petition. The key fact is the settlement between the parties, leading to the dismissal of the insolvency petition.