M/s. Shapoornji Pallonji and Company Pvt Ltd (Petitioner) initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. Ozone Urbana Infra Developers Pvt Ltd (Respondent/Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016. During the pendency of the CIRP, both parties entered into a Settlement Agreement dated 19.02.2022. The Respondent/Corporate Debtor filed a copy of the Settlement Agreement with the court on 10.03.2022. The Petitioner then filed an Interlocutory Application (I.A No. 108 of 2022) seeking to dispose of the CIRP in terms of the Settlement Agreement. The Respondent/Corporate Debtor supported the Petitioner's application. The court considered the Settlement Agreement and the submissions of both parties.

M/s. Shapoornji Pallonji and Company Pvt Ltd (Petitioner) initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. Ozone Urbana Infra Developers Pvt Ltd (Respondent/Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016. During the pendency of the CIRP, both parties entered into a Settlement Agreement dated 19.02.2022. The Respondent/Corporate Debtor filed a copy of the Settlement Agreement with the court on 10.03.2022. The Petitioner then filed an Interlocutory Application (I.A No. 108 of 2022) seeking to dispose of the CIRP in terms of the Settlement Agreement. The Respondent/Corporate Debtor supported the Petitioner's application. The court considered the Settlement Agreement and the submissions of both parties.