M/s. V-con Integrated Solutions Pvt. Ltd. (Operational Creditor) filed C.P. (IB) No.119/BB/2019 against M/s. Adcanopus Digital Media Pvt. Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016, claiming a default of Rs. 91,00,324/-. The case was listed for admission on several dates between March and July 2019. During this period, the parties entered into a Settlement Agreement dated 24.07.2019. The petitioner then sought to withdraw the petition based on this agreement. The respondent did not object to the withdrawal. The key fact is the existence of the Settlement Agreement, which led the petitioner to seek withdrawal of the CIRP application. The court considered this agreement and the respondent's lack of objection in its decision.

M/s. V-con Integrated Solutions Pvt. Ltd. (Operational Creditor) filed C.P. (IB) No.119/BB/2019 against M/s. Adcanopus Digital Media Pvt. Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016, claiming a default of Rs. 91,00,324/-. The case was listed for admission on several dates between March and July 2019. During this period, the parties entered into a Settlement Agreement dated 24.07.2019. The petitioner then sought to withdraw the petition based on this agreement. The respondent did not object to the withdrawal. The key fact is the existence of the Settlement Agreement, which led the petitioner to seek withdrawal of the CIRP application. The court considered this agreement and the respondent's lack of objection in its decision.