Rachanan Gautam & Ors. filed a petition against Orris Infrastructure Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. During the proceedings, the counsel for the corporate debtor-respondent, Mr. Gaurav Kejriwal, informed the court that an amicable settlement had been reached between the parties. Two separate settlement deeds were executed on February 7, 2019, and placed on record. The court noted that due to the settlement, it could not be determined that the claimed amount was due and payable as of the date within the meaning of Section 3(12) of the Code. This settlement is a key fact that influenced the court's decision to dispose of the petition, while granting the petitioner the liberty to revive the proceedings if the settlement terms

Rachanan Gautam & Ors. filed a petition against Orris Infrastructure Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. During the proceedings, the counsel for the corporate debtor-respondent, Mr. Gaurav Kejriwal, informed the court that an amicable settlement had been reached between the parties. Two separate settlement deeds were executed on February 7, 2019, and placed on record. The court noted that due to the settlement, it could not be determined that the claimed amount was due and payable as of the date within the meaning of Section 3(12) of the Code. This settlement is a key fact that influenced the court's decision to dispose of the petition, while granting the petitioner the liberty to revive the proceedings if the settlement terms