The petitioner, Abishek K HUF & 4 others, filed a petition against the respondent, Colorhome Developers Pvt Ltd, under Section 7 Rule 4 of an unspecified act. The parties chose to settle the matter amicably, arriving at a settlement on 2019-12-04. Based on this settlement, the petitioner sought to withdraw the petition, with the liberty to approach the Tribunal again if the Corporate Debtor fails to adhere to the terms of the settlement. The court considered the representation of counsel for both parties and Rule 8 of the I&B (Application to Adjudicating Authority) Rules, 2016.

The petitioner, Abishek K HUF & 4 others, filed a petition against the respondent, Colorhome Developers Pvt Ltd, under Section 7 Rule 4 of an unspecified act. The parties chose to settle the matter amicably, arriving at a settlement on 2019-12-04. Based on this settlement, the petitioner sought to withdraw the petition, with the liberty to approach the Tribunal again if the Corporate Debtor fails to adhere to the terms of the settlement. The court considered the representation of counsel for both parties and Rule 8 of the I&B (Application to Adjudicating Authority) Rules, 2016.