An application (I.A. 404/KB/2022) was filed by a member of the suspended board of directors of P Sarkar Fabricators Private Limited, seeking the recall of the order dated 26/04/2022, which initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The applicant sought withdrawal of the petition. The applicant was directed to deposit Rs.1,00,000/- with the Prime Minister's National Relief Fund, and this was complied with on 06/05/2022. The court noted that a settlement had been reached between the parties and that no Committee of Creditors (CoC) had been constituted. This was deemed an application that should be considered in terms of section 12A of the Code. The initial order initiating CIRP was dated 2022-04-26.

An application (I.A. 404/KB/2022) was filed by a member of the suspended board of directors of P Sarkar Fabricators Private Limited, seeking the recall of the order dated 26/04/2022, which initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The applicant sought withdrawal of the petition. The applicant was directed to deposit Rs.1,00,000/- with the Prime Minister's National Relief Fund, and this was complied with on 06/05/2022. The court noted that a settlement had been reached between the parties and that no Committee of Creditors (CoC) had been constituted. This was deemed an application that should be considered in terms of section 12A of the Code. The initial order initiating CIRP was dated 2022-04-26.