The CIRP was initiated against the Corporate Debtor with an order dated 02.03.2022. The publication in the newspaper was effected on 16.03.2022, with the last date fixed as 28.03.2022. Only one claim from the Financial Creditor was received by the IRP as of 28.03.2022. The Suspended Board of the Corporate Debtor and the petitioning/operational creditor entered into a settlement, culminating in Form-FA being given to the IRP on 28.03.2022, which was the last date for receipt of claims. The application was filed under Section 12 A read with Regulations 30A (1) of the CIRP Regulations, seeking closure of the CIRP before the constitution of the COC. The IRP's fees were paid in full.

The CIRP was initiated against the Corporate Debtor with an order dated 02.03.2022. The publication in the newspaper was effected on 16.03.2022, with the last date fixed as 28.03.2022. Only one claim from the Financial Creditor was received by the IRP as of 28.03.2022. The Suspended Board of the Corporate Debtor and the petitioning/operational creditor entered into a settlement, culminating in Form-FA being given to the IRP on 28.03.2022, which was the last date for receipt of claims. The application was filed under Section 12 A read with Regulations 30A (1) of the CIRP Regulations, seeking closure of the CIRP before the constitution of the COC. The IRP's fees were paid in full.