AI Structured Summary
Not yet generated for this judgment
Judgment
Heard Ms. Anupama Hebbar, learned Counsel for the Petitioner and Mr. Perikal K Arjun, learned Counsel for the Respondent.
This Application has been filed by the Petitioner in CP (IB) No. 102/BB/2021 seeking to dispose of the C.P. in terms of the Settlement Agreement dated 19.02.2022 entered between the parties.
The Copy of the said Settlement Agreement has already been filed by the Respondent/Corporate Debtor vide Diary No.343 dated 23.03.2022.
Shri Perikal K Arjun, learned Counsel appearing for the Respondent/Corporate Debtor supports the submissions made by the learned Counsel appearing for the Petitioner.
In the circumstances, the instant I.A is allowed and accordingly, C.P. (IB) No. 102/BB/2021 is disposed of in terms of the Settlement Agreement dated 19.02.2022 with a liberty to Petitioner to seek revival of the C.P. if the Respondent/Corporate Debtor fail to comply any of the terms of the Settlement Agreement.
Accordingly, I.A is disposed of.
C.P (IB) No. 102/BB/2021
In view of the orders passed in the I.A No.107 of 2022, the instant C.P. is disposed of in terms of the Settlement Agreement dated 19.02.2022 with the liberty as aforesaid.
Accordingly, the C.P (IB) No. 102/BB/2021 is disposed of.