NCLAT overturns NCLT order, permits withdrawal of Shalfeyo Industries' CIRP initiated over Rs 11.9 lakh debt.
Appellant Deepak Modi settles Axis Bank's Rs 1.04 crore claim, offers Rs 18 lakh to operational creditor Prime Impex.
Tribunal directs NCLT to determine CIRP costs within 4 weeks, which appellant undertakes to pay promptly.
CIRP closure ordered as proceedings reached stalemate with all creditor claims satisfied or settlement offered.