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Judgment
ORDER
Matter taken up for hearing through Video Conference in view of Notice of the Headquarters dated 17.04.2020 read with Notice dated 03.05.2020, considering the urgency expressed by way of e-mail communication in Registry vide IA No.804/2020 in CP (IB) No. 174/9/HDB/2020.
Mr. K.V. Raman, counsel for the Applicant/Petitioner and Mr. M. Viswaraj, counsel for the Respondent appeared through video conference.
Counsel for the Applicant stated that the matter is settled between the parties and in this regard, he has filed an Application bearing IA No.804/2020, under rule 8 of the Insolvency & Bankruptcy (Application to the Adjudicating Authority) Rules 2016, seeking withdrawal of the main Petition filed under section 9 of the IB Code, 2016.
Considering the submissions of the Applicant and having satisfied with the reasons as stated in the Application, this Adjudicating Authority deems it proper to allow the Application as prayed for. Accordingly IA No. 804/2020 is allowed and main Application bearing CP (IB) No.174/9/HDB/2020 stands withdrawn.