A withdrawal application (IA No. 235/2021) was filed to withdraw the present proceedings. The basis for the withdrawal was a settlement agreement entered into by the parties on 2021-07-14. The matter had been amicably settled, and the corporate debtor had made the payment. The Respondent's counsel stated that they had no dispute regarding the settlement agreement reached between the parties. The court noted that continuing the proceedings would serve no useful purpose.

A withdrawal application (IA No. 235/2021) was filed to withdraw the present proceedings. The basis for the withdrawal was a settlement agreement entered into by the parties on 2021-07-14. The matter had been amicably settled, and the corporate debtor had made the payment. The Respondent's counsel stated that they had no dispute regarding the settlement agreement reached between the parties. The court noted that continuing the proceedings would serve no useful purpose.