Sangeeta B. Agarwal, acting as the Financial Creditor, filed a petition under Section 7 of the IBC against FS Housing Pvt. Ltd., the Corporate Debtor. The petition was subsequently sought to be withdrawn based on a settlement agreement between the parties. This agreement involved the Corporate Debtor making payments in six installments, with the final installment due on May 20, 2020. The settlement agreement was documented in an annexure. The counsels informed the court that failure to meet the payment commitment or dishonoring of cheques would allow the Financial Creditor to revive the matter. The court then disposed of the matter and allowed the petition to be withdrawn.

Sangeeta B. Agarwal, acting as the Financial Creditor, filed a petition under Section 7 of the IBC against FS Housing Pvt. Ltd., the Corporate Debtor. The petition was subsequently sought to be withdrawn based on a settlement agreement between the parties. This agreement involved the Corporate Debtor making payments in six installments, with the final installment due on May 20, 2020. The settlement agreement was documented in an annexure. The counsels informed the court that failure to meet the payment commitment or dishonoring of cheques would allow the Financial Creditor to revive the matter. The court then disposed of the matter and allowed the petition to be withdrawn.