M/s.Magnifico Minerals Private Limited, the operational creditor, filed a petition under Section 9 of the IBC, 2016, to initiate CIRP against M/s.Ratna Cements (Yadwad) Limited, the corporate debtor, due to an alleged default of Rs.30,35,884.22 as of 2018-06-14. 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, and the petitioner filed a memo for withdrawal, stating that the corporate debtor agreed to pay the outstanding amount, with part payment made via demand draft and a debit note issued for the remaining balance. The petitioner sought to withdraw the petition with the liberty to file a fresh petition if the respondent failed to honor the settlement terms. The

M/s.Magnifico Minerals Private Limited, the operational creditor, filed a petition under Section 9 of the IBC, 2016, to initiate CIRP against M/s.Ratna Cements (Yadwad) Limited, the corporate debtor, due to an alleged default of Rs.30,35,884.22 as of 2018-06-14. 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, and the petitioner filed a memo for withdrawal, stating that the corporate debtor agreed to pay the outstanding amount, with part payment made via demand draft and a debit note issued for the remaining balance. The petitioner sought to withdraw the petition with the liberty to file a fresh petition if the respondent failed to honor the settlement terms. The