Tega Industries Ltd, the Operational Creditor, filed Company Petition IB/239/2021 against Tata Projects Ltd, the Corporate Debtor, under Section 9 of the IBC, 2016. During the hearing held via video conference, both counsels informed the court that the matter had been settled between the parties. Consequently, the court decided to dispose of the petition as withdrawn, considering the settlement reached, and did not impose any costs on either party. The settlement between the parties is the key fact leading to the disposal of the petition.

Tega Industries Ltd, the Operational Creditor, filed Company Petition IB/239/2021 against Tata Projects Ltd, the Corporate Debtor, under Section 9 of the IBC, 2016. During the hearing held via video conference, both counsels informed the court that the matter had been settled between the parties. Consequently, the court decided to dispose of the petition as withdrawn, considering the settlement reached, and did not impose any costs on either party. The settlement between the parties is the key fact leading to the disposal of the petition.