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Judgment
Justice Sharad Kumar Sharma, Member (Judicial)
The Appellant in the instant company appeal is before us, aggrieved against the impugned order of 17.09.2026, that was passed in CP(IB) No.137/BB/2025, as a consequence of which it had resulted into an admission of proceeding under Section 9 of the I & B Code. It was the case of the Appellant that even before the proceedings could be actually initiated, major amount for a tune of Rs.1,13,28,069.60/- was already paid. Hence, there was a minor dispute only with regards to the balance amount.
Today when the matter was taken up, the parties have placed before us a settlement agreement, that has been entered into between them on 09.10.2026. Owing to the terms of the settlement agreement that has been placed before us, the company appeal would stand closed in terms of the settlement agreement and accordingly the impugned order dated 17.09.2026 would lose its judicial significance. Order accordingly.