M/s.Magnifico Minerals Private Limited, the operational creditor, filed a petition under Section 9 of the IBC, 2016, against M/s.Ratna Cements (Yadwad) Limited, the corporate debtor, due to an alleged default of Rs.30,35,884.22 as of June 14, 2018. The case was listed for admission on several dates and adjourned each time at the request of the parties. Subsequently, the parties reached a settlement where the corporate debtor agreed to pay the outstanding amount. A portion of the amount (Rs.4,45,620) was paid via demand draft, and a debit note was issued for the remaining balance (Rs.25,90,263). Based on this settlement, the operational creditor sought to withdraw the petition, reserving the right to refile if the corporate debtor failed to adhere to the settlement

M/s.Magnifico Minerals Private Limited, the operational creditor, filed a petition under Section 9 of the IBC, 2016, against M/s.Ratna Cements (Yadwad) Limited, the corporate debtor, due to an alleged default of Rs.30,35,884.22 as of June 14, 2018. The case was listed for admission on several dates and adjourned each time at the request of the parties. Subsequently, the parties reached a settlement where the corporate debtor agreed to pay the outstanding amount. A portion of the amount (Rs.4,45,620) was paid via demand draft, and a debit note was issued for the remaining balance (Rs.25,90,263). Based on this settlement, the operational creditor sought to withdraw the petition, reserving the right to refile if the corporate debtor failed to adhere to the settlement