M/s Alloy Steels Emporium (P) Ltd. filed a petition against M/s Steelco India Pvt. Ltd. The Corporate Debtor, M/s Steelco India Pvt. Ltd., tendered 17 post-dated cheques towards discharging its existing liability. The petitioner's counsel submitted that subject to the clearance of these cheques, the claim would stand satisfied. Consequently, the petitioner sought to withdraw the petition with the liberty to refile if the cheques were dishonored. The court considered the submission and the interest of justice, and the petition was disposed of as withdrawn. The key fact is the tendering of post-dated cheques by the Corporate Debtor, which led to the withdrawal of the petition.

M/s Alloy Steels Emporium (P) Ltd. filed a petition against M/s Steelco India Pvt. Ltd. The Corporate Debtor, M/s Steelco India Pvt. Ltd., tendered 17 post-dated cheques towards discharging its existing liability. The petitioner's counsel submitted that subject to the clearance of these cheques, the claim would stand satisfied. Consequently, the petitioner sought to withdraw the petition with the liberty to refile if the cheques were dishonored. The court considered the submission and the interest of justice, and the petition was disposed of as withdrawn. The key fact is the tendering of post-dated cheques by the Corporate Debtor, which led to the withdrawal of the petition.