The case involves an application (IA 1581/2022) filed by the Operational Creditor seeking withdrawal of the main Company Petition. The Operational Creditor contends that the issue involved in the Petition has been amicably settled out of Court between the parties. Both parties jointly state that the Corporate Debtor has paid Rs. 23,72,965/- to the Operational Creditor through RTGS as full and final settlement.
The Operational Creditor filed a Company Petition against the Corporate Debtor. During the pendency of the petition, the parties amicably settled the matter out of court. As part of the settlement, the Corporate Debtor paid Rs. 23,72,965/- to the Operational Creditor through RTGS as full and final settlement. Subsequently, the Operational Creditor filed IA 1581/2022 seeking withdrawal of the Company Petition based on the settlement. Both parties confirmed the settlement and the payment to the court. The relevance of the payment is that it satisfied the debt claimed by the Operational Creditor, leading to the settlement and withdrawal of the petition.
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Order sheet…
The present Application is filed by the…
The case involves an application (IA 1581/2022) filed by the Operational Creditor seeking withdrawal of the main Company Petition. The Operational Creditor contends that the issue involved in the Petition has been amicably settled out of Court between the parties. Both parties jointly state that the Corporate Debtor has paid Rs. 23,72,965/- to the Operational Creditor through RTGS as full and final settlement.
The Operational Creditor filed a Company Petition against the Corporate Debtor. During the pendency of the petition, the parties amicably settled the matter out of court. As part of the settlement, the Corporate Debtor paid Rs. 23,72,965/- to the Operational Creditor through RTGS as full and final settlement. Subsequently, the Operational Creditor filed IA 1581/2022 seeking withdrawal of the Company Petition based on the settlement. Both parties confirmed the settlement and the payment to the court. The relevance of the payment is that it satisfied the debt claimed by the Operational Creditor, leading to the settlement and withdrawal of the petition.
Order sheet…
The present Application is filed by the…