Sangeeta B. Agarwal, acting as the Financial Creditor, initiated a petition against FS Housing Pvt. Ltd., the Corporate Debtor, under Section 7 of the IBC, 2016. The petition was filed with the NCLT Jaipur. Subsequently, the parties reached a settlement agreement, which included a payment schedule of the principal and interest in six installments. The last installment was due on May 20, 2020. Based on this settlement, the Financial Creditor sought to withdraw the petition. The court considered the settlement agreement and the submissions of both parties' counsels. A key fact is the condition that the Financial Creditor retains the right to revive the matter if the Corporate Debtor defaults on the settlement terms, specifically if the Corporate Debtor fails to meet the

Sangeeta B. Agarwal, acting as the Financial Creditor, initiated a petition against FS Housing Pvt. Ltd., the Corporate Debtor, under Section 7 of the IBC, 2016. The petition was filed with the NCLT Jaipur. Subsequently, the parties reached a settlement agreement, which included a payment schedule of the principal and interest in six installments. The last installment was due on May 20, 2020. Based on this settlement, the Financial Creditor sought to withdraw the petition. The court considered the settlement agreement and the submissions of both parties' counsels. A key fact is the condition that the Financial Creditor retains the right to revive the matter if the Corporate Debtor defaults on the settlement terms, specifically if the Corporate Debtor fails to meet the