Veer Design Studio, an operational creditor, initiated a Company Petition (C.P. No. 1185 of 2017) against Kimaya Fashions Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition aimed to initiate a Corporate Insolvency Resolution Process (CIRP). Before any significant progress in the CIRP, both parties reached an amicable settlement. As part of the settlement, Kimaya Fashions Pvt. Ltd. agreed to pay Veer Design Studio Rs. 20,00,000 in five equal monthly installments of Rs. 4,00,000 each. The payment was secured by five post-dated cheques, starting from September 10, 2017, and continuing until January 10, 2018. Based on this settlement, Veer Design Studio filed a withdrawal memo, and the court subsequently

Veer Design Studio, an operational creditor, initiated a Company Petition (C.P. No. 1185 of 2017) against Kimaya Fashions Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition aimed to initiate a Corporate Insolvency Resolution Process (CIRP). Before any significant progress in the CIRP, both parties reached an amicable settlement. As part of the settlement, Kimaya Fashions Pvt. Ltd. agreed to pay Veer Design Studio Rs. 20,00,000 in five equal monthly installments of Rs. 4,00,000 each. The payment was secured by five post-dated cheques, starting from September 10, 2017, and continuing until January 10, 2018. Based on this settlement, Veer Design Studio filed a withdrawal memo, and the court subsequently