Beyam Technologies filed a petition (CP/757/(IB)/2018) against Sical Logistics Ltd. Both parties' counsels were present and submitted a Settlement Agreement with a payment schedule (Para-2). The court placed the agreement on record and disposed of the petition. The Operational Creditor (Beyam Technologies) has the option to revive the petition if Sical Logistics Ltd defaults on payments as per the settlement agreement. The key fact is the existence and acceptance of the Settlement Agreement, which led to the disposal of the case with a provision for revival upon default.

Beyam Technologies filed a petition (CP/757/(IB)/2018) against Sical Logistics Ltd. Both parties' counsels were present and submitted a Settlement Agreement with a payment schedule (Para-2). The court placed the agreement on record and disposed of the petition. The Operational Creditor (Beyam Technologies) has the option to revive the petition if Sical Logistics Ltd defaults on payments as per the settlement agreement. The key fact is the existence and acceptance of the Settlement Agreement, which led to the disposal of the case with a provision for revival upon default.