Oswal Overseas Ltd: CIRP Withdrawal Allowed by NCLT

Oswal Overseas Limited has received an order from the National Company Law Tribunal (NCLT), New Delhi Bench, allowing the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against the company. The withdrawal follows a settlement with the sole financial creditor, approved by the Committee of Creditors with 100% voting. The NCLT has dismissed the insolvency petition, restored the company to its pre-CIRP status, and discharged the Interim Resolution Professional. All CIRP costs have been fully paid.