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Intelligence / The verdicts / Withdrawn & settled

Withdrawn cases — how fast a settlement comes

Every company admitted to CIRP and later withdrawn — settled with its creditors under Section 12A, set aside on appeal by the NCLAT, or recalled by the NCLT. See them.

The settlements desk six rows here · the full register for members

Find the comparable exit

Narrow by how long it took, whether the estate was put to market, the route as recorded, sector, bench, year or registry status; the benchmark line recomputes for the selection and every row opens to the order, the petition and what came after.

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Members four more filters · NCLT bench, year withdrawn, withdrawal route as recorded, registry status today
Benchmark for this selection · n 103
median 69 d to withdrawal (20 d faster than the national median in the tiles above) · 56% inside 90 days (national 51%) · 11% put to market first (national 17%) · 86% MCA-active today (national 81%) — whole record, this selection.
Showing 6 of 103 withdrawals, newest first Time in process = admission → withdrawal · route quoted, not translated
Corporate debtor
Withdrawn · time in processbench · admitted
Who filedpetitioner, as filed
Route, as recordedthe case row or the order, verbatim
Since thenregistry status · later orders
Professional
Explore
Feb 20266 mo in process
Sanjay Subhash Katira
Closed per IBBI's remark
MCA: Active
View case ↗Quick view

§The settlement

Admitted to CIRP
25 Aug 2025
Withdrawn
19 Feb 2026
Time in process
6 mo · 178 days, admission to withdrawal · 4 mo slower than the sector median (2 mo)
Route text
Closure-12A / appeal/ review or settlement

◷Who filed · what was owed

Who filed
Sanjay Subhash Katira

⇢Since then

MCA status
Active (as on 12 Jun 2026)
All recorded fields · 1 more
NCLT bench
Mumbai
Dec 20256y 4mo in process
Quality Engineering (Baroda) Pvt. Ltd.
Closed per IBBI's remark
MCA: Active
View case ↗Quick view

§The settlement

Admitted to CIRP
23 Jul 2019
Withdrawn
18 Dec 2025
Time in process
6y 4mo · 2,340 days, admission to withdrawal · 6y 2mo slower than the sector median (2 mo)
Route text
Closure-12A / appeal/ review or settlement

◷Who filed · what was owed

Who filed
Quality Engineering (Baroda) Pvt. Ltd.

⇢Since then

MCA status
Active (as on 12 Jun 2026)
All recorded fields · 1 more
NCLT bench
Mumbai
Nov 20252 mo in process
Reliance Value Services Private Limited
Section 12A
MCA: Active
View case ↗Quick view

§The settlement

Admitted to CIRP
3 Sep 2025
Withdrawn
4 Nov 2025
Time in process
2 mo · 62 days, admission to withdrawal
Route text
12A Withdrawal CIRP

◷Who filed · what was owed

Who filed
Reliance Value Services Private Limited

⇢Since then

MCA status
Active (as on 12 Jun 2026)
All recorded fields · 2 more
NCLT bench
Chennai
Withdrawal order
withdrawal order ↗
Oct 202511 mo in process
Punjab National Bank
Closed per IBBI's remark
MCA: Under CIRP
View case ↗Quick view

§The settlement

Admitted to CIRP
10 Dec 2024
Withdrawn
30 Oct 2025
Order feed date
23 Jan 2026
Time in process
11 mo · 324 days, admission to withdrawal · 8 mo slower than the sector median (2 mo)
Route text
Closure-12A / appeal/ review or settlement

◷Who filed · what was owed

Who filed
Punjab National Bank

⇢Since then

MCA status
Under CIRP (as on 12 Jun 2026)
Orders after the withdrawal
2 · latest Feb 2026 · withdrawn
Latest order after the withdrawal
27 Feb 2026 · NCLAT · Others order ↗
All recorded fields · 2 more
NCLT bench
New Delhi
Withdrawal order
withdrawal order ↗
Sep 202510 d in process
M/S Valiance Engineers Pvt. Ltd.
Closed per IBBI's remark
MCA: Active
View case ↗Quick view

§The settlement

Admitted to CIRP
29 Aug 2025
Withdrawn
8 Sep 2025
Time in process
10 days, admission to withdrawal · 59 d faster than the sector median (2 mo)
Route text
Closure-12A / appeal/ review or settlement

◷Who filed · what was owed

Who filed
M/S Valiance Engineers Pvt. Ltd.

⇢Since then

MCA status
Active (as on 12 Jun 2026)
Listing status
Listed
All recorded fields · 1 more
NCLT bench
Cuttack
Apr 202516 d in process
Dhara Lifescience Private Limited
Closed per IBBI's remark
MCA: Active
View case ↗Quick view

§The settlement

Admitted to CIRP
9 Apr 2025
Withdrawn
25 Apr 2025
Time in process
16 days, admission to withdrawal · 53 d faster than the sector median (2 mo)
Route text
Closure-12A / appeal/ review or settlement

◷Who filed · what was owed

Who filed
Dhara Lifescience Private Limited

⇢Since then

MCA status
Active (as on 12 Jun 2026)
All recorded fields · 1 more
NCLT bench
Indore

MembersThe comparables behind every exit — how fast settlements come, who settles and with whom, what happened after, and the settlement clock by year, sector, bench and claim size.See plans →Sign in

The freshest exits from NCLT orders to 25 Sep 2026

Withdrawn since 30 Jun 2026 — 8 companies

The settlements the NCLT allowed after IBBI's cut-off, weeks before they reach a published table: the order date and the bench.

Corporate debtor
Withdrawal order
NCLT bench
Shalfeyo Industries Private LimitedU51909RJ2014PTC046650
Trading & Distribution
7 Sep 2026
NCLT Jaipur
Superfine Metals Private LimitedU27203PN2004PTC019492
Steel & Metals
1 Sep 2026
NCLT Mumbai
Kay Bee Cotgin Private LimitedU17115PB1997PTC019571
Textiles & Apparel
20 Aug 2026
NCLT Chandigarh
A F Enterprises LimitedL18100DL1983PLC016354
Textiles & Apparel
6 Aug 2026
NCLT New Delhi
Montecarlo LimitedU40300GJ1995PLC025082
Power & Energy
3 Aug 2026
NCLT Ahmedabad
Lanarsy Infra LimitedU45200KA2011PLC061346
Construction & Infrastructure
31 Jul 2026
NCLT Bengaluru

Members2 more withdrawals since 30 Jun 2026, each with who filed, whether the estate went to market and the professional — on Pipeline and the Full Investor Desk.See plans →Sign in

Every terminal state has a re-entry path three independent signals, named on each row

Back in the process — 58 settlements that did not hold

A withdrawal is not a verdict, and it is not always the end. These companies were admitted to a fresh insolvency after the tribunal allowed their petition to be withdrawn — the smallest and least published dataset on this page, and the one a creditor weighing a settlement should read first.

1
International Print-O-Pac LimitedU22219DL1981PLC012808 · Other Manufacturing · NCLT New Delhi
Settled and withdrawn Nov 2024 after 5 mo in process; back under insolvency Sep 2026, 1y 10mo later.
18 Sep 2026A second CIRP round on this CIN · a later commencement on the IBBI process record · an NCLT admission order after the withdrawal
2
Soura Natural Energy Solutions India Private LimitedU29198KL2013PTC033602 · Machinery & Equipment · NCLT Kochi
Settled and withdrawn Mar 2022 after 2 mo in process; back under insolvency Jul 2026, 4y 4mo later.
30 Jul 2026A second CIRP round on this CIN · a later commencement on the IBBI process record · an NCLT admission order after the withdrawal
3
Ideal Real Estates Private LimitedU70101WB1988PTC045347 · Real Estate & Housing · NCLT Kolkata
Settled and withdrawn Mar 2025 after 11 mo in process; back under insolvency Jul 2026, 16 mo later.
7 Jul 2026A second CIRP round on this CIN · a later commencement on the IBBI process record · an NCLT admission order after the withdrawal
4
M.U. Buildcon Private LimitedU45400DL2011PTC223329 · Construction & Infrastructure · NCLT New Delhi
Settled and withdrawn Oct 2023 after 3 mo in process; back under insolvency Jun 2026, 2y 7mo later.
30 Jun 2026A second CIRP round on this CIN · a later commencement on the IBBI process record · an NCLT admission order after the withdrawal
5
Kapasi Infracon LLPAAQ2954 · Construction & Infrastructure · NCLT Allahabad
Settled and withdrawn May 2024 after 9 mo in process; back under insolvency Apr 2025, 10 mo later.
3 Apr 2025A second CIRP round on this CIN · a later commencement on the IBBI process record
6
Agrimas Chemicals LimitedU99999MH1973PLC016649 · Other Services · NCLT Mumbai
Settled and withdrawn Mar 2022 after 4 mo in process; back under insolvency Jan 2025, 2y 10mo later.
30 Jan 2025A second CIRP round on this CIN · a later commencement on the IBBI process record · an NCLT admission order after the withdrawal

Members52 more companies back in the process after a withdrawal, each with the signal that shows it — on Pipeline and the Full Investor Desk.See plans →Sign in

Our count, their count, the difference stated

How the withdrawals on this record reconcile to IBBI's published cumulative, and why the two populations are not the same shape.

1,333IBBI's Section 12A withdrawals as at 30 Jun 2026
1,495Ours, like-for-like to the same cut-off
+162Difference, documented case by case
15%of IBBI's 9,166 admissions ended in a 12A withdrawal — about one in seven
How the two counts reconcile

Our count is in the tiles above; the 8 withdrawals dated after IBBI's cut-off (the register above) come out of it to give the like-for-like figure. The two populations are not the same shape: IBBI counts Section 12A withdrawals, while this record counts every admission that ended in a withdrawal or closure order, whatever the order calls it.

Route as recorded, over the whole record: 469 say Section 12A on the case row or the order · 802 say withdrawn with no section named · 150 are closed per IBBI's remark (12A / appeal / review / settlement — a category, not a finding) or say closure · the cases set aside, recalled or settled on appeal are counted at the top of the page · 1 carry no remark. “Section 12A” is printed only where the source says so.
The latest withdrawal on this record is dated 7 Sep 2026 while the order feed runs to 25 Sep 2026 — withdrawal orders after that date are in the feed and not yet graded, so the count is a floor.

As of IBBI withdrawal figures to 30 Jun 2026 · NCLT/NCLAT orders to 25 Sep 2026 · latest withdrawal on this record 7 Sep 2026 · MCA status as on 12 Jun 2026, which runs on its own clock.

Sources, basis and disclaimers →Report an error