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Judgment
2 paragraphs · 158 wordsIA No.453/2023
Heard on IA No.453/2023 which is filed for withdrawal of the main petition on the basis of settlement agreement dated 11.02.2023. The final orders were reserved in the present petition under Section 9 but an application was moved for placing on record the settlement agreement dated 11.02.2023 with a prayer to withdraw the main CP(IB) No.280/Chd/Hry/2020. We have gone through the terms and conditions of the settlement agreement dated 11.02.2023. It is stated by learned counsel for the applicant that he may be permitted to withdraw the main petition in terms of settlement agreement dated 11.02.2023 with liberty to restore the main petition if the terms and conditions as well as the payments scheduled are not complied with by the respondent corporate debtor. Keeping in view the settlement agreement and statement made by learned counsel for the petitioner, the IA No.453/2023 is allowed and main CP bearing CP(IB) No.280/Chd/Hry/2019 is dismissed as withdrawn with liberty aforesaid.