This case involves an appeal against an interim order passed by the National Company Law Appellate Tribunal (NCLAT) concerning the Corporate Insolvency Resolution Process (CIRP) of M/s Seya Industries Limited. The appellant, a former director, challenged the NCLAT's decision to allow the Interim Resolution Professional (IRP) to proceed with the CIRP despite a settlement being reached between the parties. The NCLT had admitted an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by the respondents against the Corporate Debtor. The NCLAT granted an interim stay on the publication of the CIRP but allowed the IRP to continue with the process. The appellant argued that the NCLT should have allowed the withdrawal of the application under Section

This case involves an appeal against an interim order passed by the National Company Law Appellate Tribunal (NCLAT) concerning the Corporate Insolvency Resolution Process (CIRP) of M/s Seya Industries Limited. The appellant, a former director, challenged the NCLAT's decision to allow the Interim Resolution Professional (IRP) to proceed with the CIRP despite a settlement being reached between the parties. The NCLT had admitted an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by the respondents against the Corporate Debtor. The NCLAT granted an interim stay on the publication of the CIRP but allowed the IRP to continue with the process. The appellant argued that the NCLT should have allowed the withdrawal of the application under Section