Suumaya Industries Limited — Others, 29-04-2025: Corporate Insolvency Resolution Process

The National Company Law Tribunal has terminated the Corporate Insolvency Resolution Process (CIRP) for Suumaya Industries Limited after the company withdrew its insolvency proceedings related to a financial default of approximately ₹4.41 crore. An agreement was reached with the financial creditor to settle the matter by paying ₹1 crore in two installments. With the moratorium lifted, control has reverted to the company's management, marking a crucial development for stakeholders as it indicates financial stability and a new beginning for the business.