Dharan Infra-EPC Ltd Settles Outstanding Dues with Tata Capital Housing Finance Limited, CIRP Withdrawn

Dharan Infra-EPC Ltd, formerly known as KBC Global Limited and Karda Construction Limited, has paid the entire outstanding with Tata Capital Housing Finance Limited. This occurred during the claim verification period prescribed under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The Hon’ble NCLAT directed the Interim Resolution Professional to take appropriate steps in accordance with law, including approaching the Hon’ble NCLT by filing an application under Section 12A of the Insolvency and Bankruptcy Code, 2016. The Hon’ble NCLAT further directed the IRP to collate the claims received during the CIRP period and clarified that no further actions shall be undertaken in the CIRP meantime. The IRP has initiated the process of filing an application under Section 12A of the Insolvency and Bankruptcy Code, 2016, before the Hon’ble NCLT, Mumbai Bench, seeking withdrawal of the application filed under Section 7 of the Code.