Gujarat Hy-Spin Ltd - Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP)

With reference to the captioned subject and in continuation of our earlier letter dated 04.01.2023, we hereby informed that application under Section 9 of Insolvency and Bankruptcy Code, 2016 (IBC) for initiation of Corporate Insolvency Resolution Process (CIRP) against the Company is withdrawn and disposed by order IA 45 (AHM) 2023, dated 13.01.2023 Hon''ble National Company Law Tribunal (NCLT), Ahmedabad Bench attached herewith. Vide Order IA 45 (AHM) 2023, dated 13.01.2023, Hon''ble National Company Law Tribunal (NCLT), Ahmedabad Bench allowed to withdrawn and disposed the application CP (IB) 222 of 2020 titled as Jayatma Industries Ltd., V/s. Gujarat Hy-Spin Ltd. as the matter was amicably resolved and settled with the Applicant M/s. Jayatma Industries Ltd. Further, IRP was discharged forthwith from the appointment and Corporate Debtor Gujarat Hy-Spin Ltd., is free from the clutches of the IBC, 2016.