Priyadarshani Polysacks Ltd filed a petition against Shri Sai-Krupa Sugar & Allied Industries Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Learned Representative of the Operational debtor, Shri Sai-Krupa Sugar & Allied Industries Ltd, filed Consent Terms. The Consent Terms were taken on record by the NCLT. The petition was dismissed as withdrawn, with the applicant, Priyadarshani Polysacks Ltd, retaining the liberty to file a fresh application if the Consent Terms are breached, specifically in case of default or dishonor of Post Dated Cheques. This ensures that the applicant has recourse to legal action if the operational debtor fails to adhere to the agreed-upon terms.

Priyadarshani Polysacks Ltd filed a petition against Shri Sai-Krupa Sugar & Allied Industries Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Learned Representative of the Operational debtor, Shri Sai-Krupa Sugar & Allied Industries Ltd, filed Consent Terms. The Consent Terms were taken on record by the NCLT. The petition was dismissed as withdrawn, with the applicant, Priyadarshani Polysacks Ltd, retaining the liberty to file a fresh application if the Consent Terms are breached, specifically in case of default or dishonor of Post Dated Cheques. This ensures that the applicant has recourse to legal action if the operational debtor fails to adhere to the agreed-upon terms.