Apple Lifecare India Pvt Ltd, the operational creditor, filed an application (IA 2487/2022) seeking to withdraw the main Company Petition CP (IB)/463/(MB)/2020 against Varsha Mills Private Limited, the corporate debtor. The parties reached an amicable settlement outside of court on 2022-04-22, documented in a deed of settlement. As part of the settlement, Varsha Mills Private Limited agreed to pay Rs. 43,22,671/- to Apple Lifecare India Pvt Ltd, which the operational creditor accepted as full and final settlement of the outstanding dues. The application for withdrawal was based on this settlement. The relevance of these facts lies in demonstrating the resolution of the dispute through mutual agreement, leading to the closure of the insolvency proceedings.

Apple Lifecare India Pvt Ltd, the operational creditor, filed an application (IA 2487/2022) seeking to withdraw the main Company Petition CP (IB)/463/(MB)/2020 against Varsha Mills Private Limited, the corporate debtor. The parties reached an amicable settlement outside of court on 2022-04-22, documented in a deed of settlement. As part of the settlement, Varsha Mills Private Limited agreed to pay Rs. 43,22,671/- to Apple Lifecare India Pvt Ltd, which the operational creditor accepted as full and final settlement of the outstanding dues. The application for withdrawal was based on this settlement. The relevance of these facts lies in demonstrating the resolution of the dispute through mutual agreement, leading to the closure of the insolvency proceedings.