AI Structured Summary
Not yet generated for this judgment
Judgment
Both sides present. Advocate appearing for the applicant filed IA No.84 of 2019 praying for withdrawal of the main company petition on account of settlement entered into between the parties and also on account of receipt of the settlement amount through post-dated cheques issued by the respondents / CD. As the main company petition has not yet been admitted, there is no impleadment or legal obstacle for allowing the said application. Accordingly, the IA No.84/2019 is allowed and the main company petition stands disposed of as withdrawn, in view of the settlement arrived at between the parties. However, liberty is granted to the petitioner to apply for revival of the main company petition, in the event of any of the post-dated cheques issued by the respondents/CD were bounced for insufficiency of funds. Ordered accordingly.