Jalan Transolutions (India) Limited — Others, 14-06-2025: Corporate Insolvency Resolution Process

M/s Capital Trade Links Ltd initiated insolvency proceedings against M/s Jalan Transolutions (India) Ltd over a Rs. 1.36 Cr loan plus interest, later settling for Rs. 3.55 Cr payable in six monthly installments, including Rs. 30 lakh upfront. The resolution professional applied to withdraw the process before the creditors’ committee was formed, and the authority approved the withdrawal, noting no costs were incurred and the settlement was genuine. Withdrawal was allowed after hearing parties who formally approached the tribunal, ensuring creditor rights remain protected during ongoing verification.