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Corporate Insolvency Resolution Process halted due to settled dispute; corporate debtor resumes independent operations.
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....Initiation of CIRP - In view of the fact that there was a pre-existence of dispute and parties have settled the matter before the constitution of the 'Committee of Creditors', the 'Corporate Debtor' (company) is released from all the rigours of law and is allowed to function independently through its Board of Directors from immediate effect.....