AI Structured Summary
Not yet generated for this judgment
Judgment
IA No. 4189/ND/2021:
A joint application filed by the Operational Creditor and Corporate Debtor under Rule 11 seeking withdrawal of insolvency application No. 1456/ND/2018. Mr. Ganda, Learned Counsel for the Corporate Debtor states that matter was heard at length and order was reserved on 25.08.2021. Ms. Garima, Learned Counsel for the applicant states that thereafter the Corporate Debtor has settled the matter and paid the amount, as per the settlement agreement dated 15.09.2021. Copy of settlement agreement is annexed with the application. Initially Rupees 20,00,000/- is deposited to the applicant and for balance amount in terms of the agreement, post-dated cheques have been issued to the applicant.
Considering the submission made and documents on record, we allow the application, thereby allowing IB-1456/ND/2018 to be withdrawn and stands disposed of.