The appeal was filed against the order dated 04.01.2024 by which the Adjudicating Authority admitted Section 9 Application. A settlement was reached between the parties on 01.02.2024. The Respondent/Operational Creditor's counsel submitted that the settlement was agreed upon and payments were made. The Appellant's counsel stated that all payments were made except for Rs.20 lakhs, for which post-dated cheques were issued. The Operational Creditor paid Rs.2 lakhs as the RP fee. The court accepted the settlement, closed the CIRP, set aside the order dated 04.01.2024, and freed the Corporate Debtor from insolvency.

The appeal was filed against the order dated 04.01.2024 by which the Adjudicating Authority admitted Section 9 Application. A settlement was reached between the parties on 01.02.2024. The Respondent/Operational Creditor's counsel submitted that the settlement was agreed upon and payments were made. The Appellant's counsel stated that all payments were made except for Rs.20 lakhs, for which post-dated cheques were issued. The Operational Creditor paid Rs.2 lakhs as the RP fee. The court accepted the settlement, closed the CIRP, set aside the order dated 04.01.2024, and freed the Corporate Debtor from insolvency.