Shiva Transport Co., an operational creditor, filed a petition against Inox Wind Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner subsequently sought to withdraw the petition and submitted a withdrawal memo detailing cheque payments and payment schedules, including a payment to be made via RTGS. The respondent-Corporate Debtor provided an undertaking. The court considered the withdrawal memo and the undertaking, ultimately dismissing the petition as withdrawn, with liberty to the petitioner to mention the case in the event of default of payment as per the schedule outlined in the withdrawal memo. The key fact is the withdrawal of the petition based on the withdrawal memo and the undertaking by the Corporate

Shiva Transport Co., an operational creditor, filed a petition against Inox Wind Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner subsequently sought to withdraw the petition and submitted a withdrawal memo detailing cheque payments and payment schedules, including a payment to be made via RTGS. The respondent-Corporate Debtor provided an undertaking. The court considered the withdrawal memo and the undertaking, ultimately dismissing the petition as withdrawn, with liberty to the petitioner to mention the case in the event of default of payment as per the schedule outlined in the withdrawal memo. The key fact is the withdrawal of the petition based on the withdrawal memo and the undertaking by the Corporate