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Judgment
ORDER
IA No. 1491/2023:- The present application is filed by the Financial Creditor under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 for withdrawal of the Company Petition. Counsel appearing for the Financial Creditor submits that the Financial Creditor and the Corporate Debtor have entered into consent terms and as per the clauses of the consent terms/settlement agreement, the Corporate Debtor has agreed to pay Rs. 77,37,527/- as full and final settlement of all disputes between the parties.
Having considered the submissions of the Counsel, appearing for the Financial Creditor and Corporate Debtor and on perusal of averments made in the present application.
This bench is of the considered view that since parties have settled the matter as full and final. In view of the above, IA No. 1491/2023 is allowed and disposed of. Resultantly, the C.P. (IB)/161(MB)2022 is allowed to be withdrawn, hence stands closed. All the pending IA’s/MA’s in this Company Petition become infructuous, hence stood dismissed. File be consigned to records.