Shakti Containers Pvt Ltd filed a petition against Bnazrum Agro Exports Pvt Ltd under the IBC. Both parties, represented by their respective learned counsel, submitted a joint memorandum of compromise and consent terms to the tribunal on 2020-03-12, seeking withdrawal of the petition. The settlement included a schedule of payment. The petitioner's counsel stated that if the corporate debtor fails to comply with the compromise terms, the petitioner retains the right to approach the tribunal again. The tribunal considered the settlement, the consensus between the parties, and Rule 8 of the I&B (Application to Adjudicating Authority) Rules, 2016.

Shakti Containers Pvt Ltd filed a petition against Bnazrum Agro Exports Pvt Ltd under the IBC. Both parties, represented by their respective learned counsel, submitted a joint memorandum of compromise and consent terms to the tribunal on 2020-03-12, seeking withdrawal of the petition. The settlement included a schedule of payment. The petitioner's counsel stated that if the corporate debtor fails to comply with the compromise terms, the petitioner retains the right to approach the tribunal again. The tribunal considered the settlement, the consensus between the parties, and Rule 8 of the I&B (Application to Adjudicating Authority) Rules, 2016.