NCLAT allows withdrawal of insolvency case against Oswal Overseas after settlement with creditor

The National Company Law Appellate Tribunal allowed Oswal Overseas' appeal withdrawal after a settlement. Oswal Overseas and LH Sugar Factories informed the tribunal about their amicable dispute resolution. A demand draft for Rs 2.80 crore was handed over to LH Sugar Factories. The tribunal dismissed an appeal challenging the insolvency proceedings against Oswal Overseas. This decision followed an earlier NCLT order directing insolvency resolution against Oswal Overseas.

Raccontata daeconomictimes.indiatimes.com