FORM F-A

APPLICATION FOR WITHDRAWAL OF CORPORATE INSOLVENCY

RESOLUTION PROCESS
[Under Regulation 30A of the Insolvency and Bankruptcy Board of India (Insolvency
Resolution Process for Corporate Persons) Regulations, 2016]
[Date]
To
The Adjudicating Authority

Through Interim Resolution Professional,

Devnidhi Arya
devaryafca@gmail.com

Vandeu International Private Limited (Corporate Debtor)

Subject: Withdrawal of Application admitted for corporate insolvency resolution

process of Vandeu International Private Limited

1. I, Power2SME Private Limited through Authorized Representative Mr. Munender

Chauhan, had filed an application Diary No. 0710102/14931/2019 on 11.07.2019
before the Adjudicating Authority under section 9 of the Insolvency and Bankruptcy
Code, 2016. The said application was admitted by the Adjudicating Authority on
01.11.2019 bearing C.A No. ……. of 2019 in COMPANY PETITION (IB) NO.
1695/(ND)/2019.

2. It is humbly submitted that the Corporate Debtor has admitted the outstanding
dues/debts of the Operational Creditors alongwith interest and did not raise any
dispute or objection on the dues/debts, however, expressed its inability to pay the total
outstanding dues and proposed to pay an amount of Rs. 26,00,000/- (Rupee twenty
Six Lakhs Only) in 05 monthly installments, starting from January 2020 and final
balance amount along with interest shall be paid on or before 25th May 2020.
3. The proposal of the Corporate Debtor has been considered by the Operational Debtor
under certain terms and conditions.
 4. The both the parties have agreed to the said terms and conditions as mentioned in
above para and a compromise settlement agreement has been executed between both
the parties on 13th November 2019.The true copy of the said settlement agreement
dated 13.11.2019 is annexed and marked as ANNEXURE “B” in the original
settlement. (doubtful as to this addition)
5. That the parties more specifically the Corporate debtor undertakes to abide by all the
stipulations contained in the Settlement Agreement Dated 13.11.2019 and undertakes
to comply with same in letter and spirit. Time has agreed to be the essence of the
contract.

6. I hereby withdraw the application bearing C.A No. ……. of 2019 in COMPANY
PETITION (IB) NO. 1695/(ND)/2019 filed by me before the Adjudicating Authority
under Section 9 of the Insolvency and Bankruptcy Code, 2016.

7. I attach the required bank guarantee as per sub-regulation (2) of regulation 30A.

(Signature of the applicant)

Date:
Place:
[Note: In the case of company or limited liability partnership, the declaration and verification
shall be made by the director/manager/secretary/designated partner and in the case of other
entities, an officer authorised for the purpose by the entity]