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Judgment
This is an application under Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 read with Rule 11 of the NCLT Rules, 2016 along with the affidavit in support.
We have heard the submissions made by the Learned Counsel for the Operational Creditor as well as Learned Counsel for the Corporate Debtor and gone through the contents of the application. The Applicants have requested the Tribunal to allow the withdrawal of CP No. IB-70/ND/2021 in terms of the Settlement Agreement dated 27.10.2021. The said application is allowed and the main matter is dismissed as withdrawn in terms of Rule 8 of IB (Application to Adjudicating Authority) Rules, 2016. The case papers may be consigned to the record room. The date of hearing dated 01.12.2021 stands cancelled now in view of the disposal of the main petition.