AI Structured Summary
Not yet generated for this judgment
Judgment
Counsel for operational creditor is present.
Withdrawal memo is filed.
Counsel reported that parties entered into settlement. Petition is not yet admitted.
Therefore permission can be granted to the operational creditor/petitioner to withdraw the petition under Rule 8 of I & B (AAA) Rules, 2016.
Counsel requested the Tribunal to grant leave to the operational creditor to file fresh petition in case corporate debtor commits default of any of the terms OF MOU.
MOU is enclosed to the memo. Therefore permission can be granted to the operational creditor to withdraw the petition.
Memo is recorded. Permission is granted. Petition is dismissed as withdraw with a liberty to the operational creditor to file fresh petition in case of default of any of the terms of MOU.