A petition was filed under the Insolvency and Bankruptcy Code (IBC). The petitioner and the corporate debtor reached a settlement, documented in a memo of compromise filed on January 6, 2020. As part of the settlement, the corporate debtor issued post-dated cheques to the petitioner. The petitioner then sought to withdraw the petition, requesting the liberty to refile if the settlement terms are not met. The court considered the settlement and the petitioner's request.

A petition was filed under the Insolvency and Bankruptcy Code (IBC). The petitioner and the corporate debtor reached a settlement, documented in a memo of compromise filed on January 6, 2020. As part of the settlement, the corporate debtor issued post-dated cheques to the petitioner. The petitioner then sought to withdraw the petition, requesting the liberty to refile if the settlement terms are not met. The court considered the settlement and the petitioner's request.