The appeal was filed against the order dated 2023-02-28, admitting an application by the Operational Creditor under Section 9 of the Code. The parties entered into a settlement agreement dated 2023-03-02, where the Appellant agreed to pay Rs. 4,03,08,250 in six installments. Rs. 25 Lakh was paid upon signing the agreement, and a cheque for Rs. 1 Crore dated 2023-03-06 was encashed. The remaining amount was paid via post-dated cheques. The Operational Creditor and IRP did not deny these facts. The relevance of these facts is that they demonstrate the parties' agreement to settle the dispute, leading to the appeal being allowed.

The appeal was filed against the order dated 2023-02-28, admitting an application by the Operational Creditor under Section 9 of the Code. The parties entered into a settlement agreement dated 2023-03-02, where the Appellant agreed to pay Rs. 4,03,08,250 in six installments. Rs. 25 Lakh was paid upon signing the agreement, and a cheque for Rs. 1 Crore dated 2023-03-06 was encashed. The remaining amount was paid via post-dated cheques. The Operational Creditor and IRP did not deny these facts. The relevance of these facts is that they demonstrate the parties' agreement to settle the dispute, leading to the appeal being allowed.