A petition was filed under IBA/771/2019. The parties reached a compromise, documented in a memo filed on 06.01.2020. As part of the settlement, the corporate debtor issued post-dated cheques to the petitioner. The petitioner, represented by counsel, sought to withdraw the petition based on the settlement, requesting the liberty to refile if the terms of the compromise were not met. The relevance of these facts lies in the tribunal's decision to dismiss the petition based on the compromise, while allowing the petitioner recourse if the settlement fails.

A petition was filed under IBA/771/2019. The parties reached a compromise, documented in a memo filed on 06.01.2020. As part of the settlement, the corporate debtor issued post-dated cheques to the petitioner. The petitioner, represented by counsel, sought to withdraw the petition based on the settlement, requesting the liberty to refile if the terms of the compromise were not met. The relevance of these facts lies in the tribunal's decision to dismiss the petition based on the compromise, while allowing the petitioner recourse if the settlement fails.