Asrec (India) Limited initiated a Corporate Insolvency Resolution Process (CIRP) against Sai Akshar Graphics Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016, registered as CP/915/2022. A settlement was reached between the parties, and the Committee of Creditors (CoC) approved this settlement in its 11th meeting held on 24.06.2024. Consequently, an application (IA 3190/2024) was filed to withdraw the CIRP. Additionally, IA 4449/2023, seeking liquidation, was also approved for withdrawal by the CoC, with orders previously reserved vide order dated 16.01.2024. The present order addresses the withdrawal of both CP/915/2022 and IA 4449/2023.

Asrec (India) Limited initiated a Corporate Insolvency Resolution Process (CIRP) against Sai Akshar Graphics Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016, registered as CP/915/2022. A settlement was reached between the parties, and the Committee of Creditors (CoC) approved this settlement in its 11th meeting held on 24.06.2024. Consequently, an application (IA 3190/2024) was filed to withdraw the CIRP. Additionally, IA 4449/2023, seeking liquidation, was also approved for withdrawal by the CoC, with orders previously reserved vide order dated 16.01.2024. The present order addresses the withdrawal of both CP/915/2022 and IA 4449/2023.