Ajay Kumar Agarwal, operating as Satyam Enterprises, initiated insolvency proceedings against Purulia Metal Casting Private Limited under Section 9 of the IBC, acting as the operational creditor. During the proceedings, the operational creditor's counsel informed the court that full payment had been received from the corporate debtor. A settlement agreement dated February 5, 2022, was submitted as evidence, showing that Purulia Metal Casting Private Limited had issued post-dated cheques to settle the outstanding debt. Consequently, the operational creditor sought permission to withdraw the petition, which the court granted, leading to the dismissal of the Corporate Petition.

Ajay Kumar Agarwal, operating as Satyam Enterprises, initiated insolvency proceedings against Purulia Metal Casting Private Limited under Section 9 of the IBC, acting as the operational creditor. During the proceedings, the operational creditor's counsel informed the court that full payment had been received from the corporate debtor. A settlement agreement dated February 5, 2022, was submitted as evidence, showing that Purulia Metal Casting Private Limited had issued post-dated cheques to settle the outstanding debt. Consequently, the operational creditor sought permission to withdraw the petition, which the court granted, leading to the dismissal of the Corporate Petition.