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Judgment
This application has been filed by the Applicant/ Financial Creditor under Rule 11 of the NCLT Rules, 2016 for withdrawal of the Company Petition No. 196/7/JPR/2019. It has been submitted by both the parties that settlement via Restructuring Agreement dated 28.07.2020 has been reached, wherein the borrower will pay the remaining amount due to the Financial Creditor as per the terms enumerated in the settlement agreement dated 28.07.2020. It has been prayed that in breach of the terms of the settlement, the Applicant will be at liberty to revive the petition with the permission of this Adjudicating Authority.
In view of the above, CP No. (IB)- 196/7/JPR/2019 is dismissed as withdrawn subject to revival of the petition in case of any breach of terms of the settlement on the part of the Corporate Debtor.
IA No. 143/JPR/2022 & IA No. 386/JPR/2021 stands disposed of accordingly.