Usha Packagings, the operational creditor, filed a petition against Arcotech Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the corporate debtor handed over a cheque dated 10.04.2019 for ₹ 4.00 lacs to the operational creditor, which was encashed. Subsequently, another cheque dated 10.05.2019 for ₹4,33,040/- was also handed over by the corporate debtor. The respondent's counsel assured the court that this cheque would also be encashed. As the outstanding debt was settled and promised to be paid, the court disposed of the petition, granting the operational creditor the liberty to mention any default in the agreed payment.

Usha Packagings, the operational creditor, filed a petition against Arcotech Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, the corporate debtor handed over a cheque dated 10.04.2019 for ₹ 4.00 lacs to the operational creditor, which was encashed. Subsequently, another cheque dated 10.05.2019 for ₹4,33,040/- was also handed over by the corporate debtor. The respondent's counsel assured the court that this cheque would also be encashed. As the outstanding debt was settled and promised to be paid, the court disposed of the petition, granting the operational creditor the liberty to mention any default in the agreed payment.