Godrej & Boyce Manufacturing Company Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Vyshaka Solar Energy Systems Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC). The CIRP was admitted by the NCLT Amaravati Bench. Subsequently, an application (I.A (IBC)/158/2023) was filed under Section 12A of the IBC, seeking to withdraw the CIRP based on a settlement between the parties. The application was filed before the constitution of the committee of creditors. The Interim Resolution Professional (IRP), Mr. Srinivas Gudla Rao, confirmed that complete fees had been received and Form-FA had been filed. The Tribunal considered the settlement and the IRP's confirmation before allowing the withdrawal.

Godrej & Boyce Manufacturing Company Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Vyshaka Solar Energy Systems Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC). The CIRP was admitted by the NCLT Amaravati Bench. Subsequently, an application (I.A (IBC)/158/2023) was filed under Section 12A of the IBC, seeking to withdraw the CIRP based on a settlement between the parties. The application was filed before the constitution of the committee of creditors. The Interim Resolution Professional (IRP), Mr. Srinivas Gudla Rao, confirmed that complete fees had been received and Form-FA had been filed. The Tribunal considered the settlement and the IRP's confirmation before allowing the withdrawal.