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Judgment
ORDER
IA 2487/2022
This is an Application filed by the Operational Creditor for withdrawal of the main Company Petition contending that the issue involved in the Company Petition is now amicably settled out of the Court between the Parties. The Parties have entered into deed of settlement on 22.04.2022, and the copy of the deed of settlement is also annexed to this Application. Ld. Counsel for the Operational Creditor submits that the Corporate Debtor has agreed to pay an amount to the extent of Rs. 43,22,671/-, which has been accepted by the Operational Creditor as full and final settlement.
Having considered the above submissions and upon perusal of the averments made in the Application, this Bench is satisfied; accordingly, is of the view that this Application is liable to be allowed and the same is allowed thereby allowing the Applicant to withdraw the Main Company Petition bearing CP (IB) No. 463 of 2020. Resultantly, the Company Petition bearing CP (IB) No. 463 of 2020, stands closed. File be consigned to record.