AI Structured Summary
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Judgment
Actually matter is listed on 05.08.2019. However on the mention made by the counsels for operational creditor and corporate debtor this matter is listed today on the ground parties entered into settlement and that withdrawal memo will be filed today.
Matter is taken up from being advanced from 05.08.2019 to this date i.e 25.07.2019.
Counsel for both sides are present.
Joint memo for withdrawal is filed. It is signed by both the counsels appearing for parties.
Petition is not yet admitted. Therefore, permission can be granted to the operational creditor to withdraw the petition under Rule 8 of I & B (AAA) Rules, 2016.
Joint Memo is recorded. Permission is granted to withdraw the petition.
Per: Hon'ble Shri Ratakonda Murali, Member (Judicial)
ORDER
Joint memo for withdrawal dated 25.07.2019 is filed by both the parties seeking permission to withdraw the petition on the ground that parties entered into settlement.
It is stated that operational creditor and corporate debtor have settled the dispute amicably. The corporate debtor has paid the principal amount due to the operational creditor. It is stated that the operational creditor has agreed to forego the interest component and thus filed a memo for withdrawal.
Petition is not yet admitted, Therefore permission can be granted to the operational creditor to withdraw the petition under Rule 8 of I & B (AAA) Rules, 2016.
Joint Memo is recorded. Permission is granted to withdraw the petition.
In the result petition is dismissed as withdrawn.