Shri J. Seshadri, the Financial Creditor, filed C.P. (IB) No.45/BB/2019 under Section 7 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Excel Intelligence Services Private Limited, the Corporate Debtor. The basis for the application was a default of Rs.6,36,036/- by the Corporate Debtor. Subsequently, the Financial Creditor and the Corporate Debtor reached an out-of-court settlement. The Corporate Debtor agreed to pay Rs.6,67,134/- in full and final settlement of all financial debts and paid the debt through Demand Draft No.001875 dated 08/02/2019. The Financial Creditor then submitted a memo to the Tribunal requesting the withdrawal of the company petition. The Respondent had no objection to the withdrawal.

Shri J. Seshadri, the Financial Creditor, filed C.P. (IB) No.45/BB/2019 under Section 7 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Excel Intelligence Services Private Limited, the Corporate Debtor. The basis for the application was a default of Rs.6,36,036/- by the Corporate Debtor. Subsequently, the Financial Creditor and the Corporate Debtor reached an out-of-court settlement. The Corporate Debtor agreed to pay Rs.6,67,134/- in full and final settlement of all financial debts and paid the debt through Demand Draft No.001875 dated 08/02/2019. The Financial Creditor then submitted a memo to the Tribunal requesting the withdrawal of the company petition. The Respondent had no objection to the withdrawal.