NCLT allows CIRP withdrawal; Oswal Overseas exits insolvency proceedings

NCLT New Delhi allowed withdrawal of the Corporate Insolvency Resolution Process against Oswal Overseas. The CIRP was admitted on 8 June 2026 after a petition by L H Sugar Factories. State Bank of India, the sole financial creditor, settled for Rupees 2.80 crore which was already paid. The Committee of Creditors approved the settlement with 100 percent voting. CIRP costs were fully paid. The company is restored to its pre-CIRP position and the moratorium is lifted.