The Operational Creditor (OC) and Corporate Debtor (CD) jointly submitted a settlement agreement to the court, indicating that the matter had been resolved. They requested that the Corporate Petition (C.P.) be withdrawn. The court considered the settlement agreement and heard arguments from both counsels. The settlement agreement contained specific conditions, particularly in paragraphs 1 and 3, regarding the payment of the default amount. The court allowed the withdrawal of the C.P. but granted the OC the right to revive the petition if the settlement terms were not met. The CD was also given the right to raise the matter if the settlement agreement was violated. The main C.P. was disposed of as withdrawn.

The Operational Creditor (OC) and Corporate Debtor (CD) jointly submitted a settlement agreement to the court, indicating that the matter had been resolved. They requested that the Corporate Petition (C.P.) be withdrawn. The court considered the settlement agreement and heard arguments from both counsels. The settlement agreement contained specific conditions, particularly in paragraphs 1 and 3, regarding the payment of the default amount. The court allowed the withdrawal of the C.P. but granted the OC the right to revive the petition if the settlement terms were not met. The CD was also given the right to raise the matter if the settlement agreement was violated. The main C.P. was disposed of as withdrawn.