Brilliant Alloys Private Limited filed a petition for Special Leave to Appeal. The National Company Law Tribunal, Divisional Bench, Chennai, had passed a judgment and order on 2018-11-01 in MA No. 536/2018. The Corporate Debtor and the Financial Creditor agreed to the withdrawal of the petition. However, the withdrawal was not allowed initially because Regulation 30A states that withdrawal cannot be permitted after the issue of invitation for expression of interest. The Supreme Court considered Section 12A, which contains no such stipulation. The court ultimately allowed the settlement and annulled the proceedings.

Brilliant Alloys Private Limited filed a petition for Special Leave to Appeal. The National Company Law Tribunal, Divisional Bench, Chennai, had passed a judgment and order on 2018-11-01 in MA No. 536/2018. The Corporate Debtor and the Financial Creditor agreed to the withdrawal of the petition. However, the withdrawal was not allowed initially because Regulation 30A states that withdrawal cannot be permitted after the issue of invitation for expression of interest. The Supreme Court considered Section 12A, which contains no such stipulation. The court ultimately allowed the settlement and annulled the proceedings.