M/s.Global Infonet Distribution Private Limited, the operational creditor, filed an application under Section 9 of the IBC, 2016, to initiate CIRP against M/s.Ikyam Solutions Private Limited, the corporate debtor. The operational creditor claimed a default of Rs. 10,01,117/- along with 24% interest per annum. The parties subsequently settled the matter amicably during the proceedings. The Petitioner then sought to withdraw the instant proceedings. The case was initially rejected by the Adjudicating Authority, but this decision was overturned by the NCLAT, which remitted the case back to the Adjudicating Authority. The learned Counsel for the Petitioner filed a Memo For Withdrawal dated 14.08.2019.

M/s.Global Infonet Distribution Private Limited, the operational creditor, filed an application under Section 9 of the IBC, 2016, to initiate CIRP against M/s.Ikyam Solutions Private Limited, the corporate debtor. The operational creditor claimed a default of Rs. 10,01,117/- along with 24% interest per annum. The parties subsequently settled the matter amicably during the proceedings. The Petitioner then sought to withdraw the instant proceedings. The case was initially rejected by the Adjudicating Authority, but this decision was overturned by the NCLAT, which remitted the case back to the Adjudicating Authority. The learned Counsel for the Petitioner filed a Memo For Withdrawal dated 14.08.2019.