The Financial Creditor filed an application (IA 777/2021) seeking initiation of contempt proceedings against the Corporate Debtor. The Corporate Debtor settled the matter with the Financial Creditor. As a result of the settlement, the Financial Creditor expressed a desire to withdraw the main Company Petition. The court considered the submission and allowed the withdrawal of the Company Petition, also disposing of IA 777/2021. The settlement between the parties is the key fact that led to the withdrawal of the petition and disposal of the application.

The Financial Creditor filed an application (IA 777/2021) seeking initiation of contempt proceedings against the Corporate Debtor. The Corporate Debtor settled the matter with the Financial Creditor. As a result of the settlement, the Financial Creditor expressed a desire to withdraw the main Company Petition. The court considered the submission and allowed the withdrawal of the Company Petition, also disposing of IA 777/2021. The settlement between the parties is the key fact that led to the withdrawal of the petition and disposal of the application.