AI Structured Summary
Not yet generated for this judgment
Judgment
S. K. Mohapatra, Member
The present Company Petition No. (IB) - 1503 (PB) /2019 has been filed by M/s Godrej and Boyce Manufacturing Company Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016 with a prayer to trigger Corporate Insolvency Resolution Process in respect of respondent Company M/s. Parsvnath Landmarks Developers Private Limited, referred to as the corporate debtor.
The petitioner operational creditor, however, subsequently filed CA-1970 (PB) /2019 for withdrawal of the present petition i.e. Company Petition No. (IB)-1503 (PB)/2019 on the ground that both the parties have amicably arrived at a settlement and no grievance is left to be addressed in the present petition.
In that view of the matter as the parties mutually have settled the matter in its entirety, CA-1970 (PB) /2019 is allowed and the request of the petitioner for withdrawal of the present Petition is permitted under Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
Accordingly, Company Petition No. (IB)-1503 (PB)/2019 stands dismissed as withdrawn.
Let copy of the order be served to the parties.