An application was filed under Section 12A of the Insolvency & Bankruptcy Code, 2016, by the IRP along with Form FA, signed by the Proprietor/Operational Creditor. The application was filed to withdraw the instant application because the parties have reached a settlement and the matter is compromised. The IRP filed the application with the consent of the Operational Creditor. The court considered the settlement and allowed the withdrawal of the application. The Operational Creditor is directed to clear the dues of the IRP, if any. This indicates that the parties have resolved their dispute outside of the insolvency proceedings, leading to the withdrawal of the application.

An application was filed under Section 12A of the Insolvency & Bankruptcy Code, 2016, by the IRP along with Form FA, signed by the Proprietor/Operational Creditor. The application was filed to withdraw the instant application because the parties have reached a settlement and the matter is compromised. The IRP filed the application with the consent of the Operational Creditor. The court considered the settlement and allowed the withdrawal of the application. The Operational Creditor is directed to clear the dues of the IRP, if any. This indicates that the parties have resolved their dispute outside of the insolvency proceedings, leading to the withdrawal of the application.