Rajkamal Builders Infrastructure Private Limited, the Operational Creditor, initiated proceedings against Crescent EPC Projects & Technical Services Pvt Ltd, the Corporate Debtor, under Section 9 of the IBC. The parties subsequently reached a settlement, with the Corporate Debtor agreeing to make payments to the Operational Creditor. A joint memo was filed by both counsels, indicating the settlement and seeking permission to withdraw the petition. The settlement involved a payment of Rs.4,30,45,591/- to be made within 10 working days. The Operational Creditor sought to withdraw the petition under Rule 8 of the I&B (AAA) Rules, 2016. The matter was initially reserved for orders, and a memorandum of compromise, including a full and final settlement agreement, was filed.

Rajkamal Builders Infrastructure Private Limited, the Operational Creditor, initiated proceedings against Crescent EPC Projects & Technical Services Pvt Ltd, the Corporate Debtor, under Section 9 of the IBC. The parties subsequently reached a settlement, with the Corporate Debtor agreeing to make payments to the Operational Creditor. A joint memo was filed by both counsels, indicating the settlement and seeking permission to withdraw the petition. The settlement involved a payment of Rs.4,30,45,591/- to be made within 10 working days. The Operational Creditor sought to withdraw the petition under Rule 8 of the I&B (AAA) Rules, 2016. The matter was initially reserved for orders, and a memorandum of compromise, including a full and final settlement agreement, was filed.