Reliance Commercial Finance Ltd. filed a petition against Delhi Baroda Road Carrier Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. During the proceedings, the respondent's counsel presented a settlement agreement between the parties, supported by evidence of an initial payment of Rs. 51 Lacs made on 2019-01-30. The petitioner requested the matter be kept pending until the final installment due date of 2019-03-25. The court considered the settlement and the payment, leading to the disposal of the petition with liberty to the petitioner to re-apply if the settlement terms are violated. The key fact is the existence of a settlement agreement and partial payment, which influenced the court's decision to dispose of the petition.

Reliance Commercial Finance Ltd. filed a petition against Delhi Baroda Road Carrier Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. During the proceedings, the respondent's counsel presented a settlement agreement between the parties, supported by evidence of an initial payment of Rs. 51 Lacs made on 2019-01-30. The petitioner requested the matter be kept pending until the final installment due date of 2019-03-25. The court considered the settlement and the payment, leading to the disposal of the petition with liberty to the petitioner to re-apply if the settlement terms are violated. The key fact is the existence of a settlement agreement and partial payment, which influenced the court's decision to dispose of the petition.