An application, I.A No.1667/2020, was filed under Regulation 30 A of the CIRP regulations to withdraw the main petition (IB)-2198(ND)2019. The basis for the withdrawal was a settlement reached between the parties, evidenced by a settlement agreement dated 2020-02-29. As part of the settlement, the Corporate Debtor provided a demand draft of Rs. 7,50,000/- to the Operational Creditor. The RP confirmed that the only claim received was from the Operational Creditor and that no Committee of Creditors (CoC) had been constituted. The key fact is the settlement between the parties, leading to the withdrawal application.

An application, I.A No.1667/2020, was filed under Regulation 30 A of the CIRP regulations to withdraw the main petition (IB)-2198(ND)2019. The basis for the withdrawal was a settlement reached between the parties, evidenced by a settlement agreement dated 2020-02-29. As part of the settlement, the Corporate Debtor provided a demand draft of Rs. 7,50,000/- to the Operational Creditor. The RP confirmed that the only claim received was from the Operational Creditor and that no Committee of Creditors (CoC) had been constituted. The key fact is the settlement between the parties, leading to the withdrawal application.