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Judgment
IA-3055/2023: The prayer made in the application reads thus:
“Dispose of the present application filed under Section 7 of the IBC, 2016 in view of the settlement arrived between the parties.”
The IA is allowed.
IB-135/ND/2023: As prayed by the Ld. Counsel appearing for the Petitioner, the IB-135/ND/2023 is allowed to be withdrawn and is dismissed accordingly.
Nevertheless, the prayer for withdrawal is made when on 18.05.2023 we had heard the arguments at length and reserved the petition for the order. Thereafter, we had to spend considerable time on the petition. In the wake, the Petitioner and Respondent are directed to pay the cost of Rs. 10,000/- each to be deposited in the Prime Minister’s Relief Fund within one week. The receipt of payment of cost should be uploaded on the DMS/record, within the given time.