Canara Constructions and Engineering Pvt. Ltd. filed an application under Section 7 of the IBC, 2016, against Assotech Moonshine Urban Developers Pvt. Ltd. IA-3055/2023 was filed to dispose of the Section 7 application due to a settlement between the parties. The petitioner then sought to withdraw the main application, IB-135/ND/2023. The court had already heard arguments on 18.05.2023 and reserved the petition for orders. Despite this, the court allowed the withdrawal but imposed a cost of Rs. 10,000 each on the petitioner and respondent, to be deposited in the Prime Minister's Relief Fund. The relevance of the settlement is that it prompted the withdrawal of the main application.

Canara Constructions and Engineering Pvt. Ltd. filed an application under Section 7 of the IBC, 2016, against Assotech Moonshine Urban Developers Pvt. Ltd. IA-3055/2023 was filed to dispose of the Section 7 application due to a settlement between the parties. The petitioner then sought to withdraw the main application, IB-135/ND/2023. The court had already heard arguments on 18.05.2023 and reserved the petition for orders. Despite this, the court allowed the withdrawal but imposed a cost of Rs. 10,000 each on the petitioner and respondent, to be deposited in the Prime Minister's Relief Fund. The relevance of the settlement is that it prompted the withdrawal of the main application.