P K Vaduvammal vs Deccan Extrusions Pvt Ltd

Learned Counsel for the parties are present. It is represented by Learned Counsel for the parties that a memo of compromise has been filed on 06.01.2020. Learned Counsel for the Petitioner represents that in terms of the Memo settlement has been arrived at and the post-dated cheques have also been issued by the Corporate Debtor in relation to the claim made by the Petitioner before this Tribunal and the Counsel for the Petitioner hence seeks to withdraw this Petition further representing liberty may be granted to the Petitioner to approach this Tribunal in case there is non adherence to the terms as given in the memo of compromise arrived at between the parties. Taking into consideration the representation of the Petitioner as well as the memo filed before this Tribunal dated 06.01.2020 and Rule 8 of I&B (Application to Adjudicating Authority) Rules, 2016, this Petition stands dismissed as withdrawn with liberty being given to the Petitioner to file a fresh Petition in case the claim not settled as per Memo or he is not adhered to the memo of compromise. Files to records.