NCLAT allows withdrawal of appeal after settlement with LH Sugar

NCLAT dismissed Oswal Overseas' appeal as withdrawn after the company and LH Sugar Factories Ltd (financial creditor) amicably settled their dispute. The company paid Rs 2.80 crore via demand draft to LH Sugar, which confirmed its financial debt is fully and finally discharged. The tribunal allowed the IRP to collate claims and form the Committee of Creditors but said EOI cannot be invited until a Section 12A application is disposed.