AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
Ld. AR for the Petitioner as well as the Ld. Counsel for the Corporate Debtor are present. The Ld. AR for the Petitioner represents that a Memorandum of Settlement has been entered into between the parties on 31.12.2019. In the circumstance, the Petitioner seeks to withdraw this Petition but in case of non-adherence on the part of the Corporate Debtor to comply with the terms of Memorandum of Settlement, to approach this Tribunal afresh.
Taking into consideration the said representation as well as Rule 8 of I&B (AAA), Rules, 2016, the Petition stands dismissed as withdrawn. However, the Petitioner is given liberty to approach this Tribunal afresh in case of non-adherence with the said Memorandum of Settlement arrived at between the parties on 31.12.2019.