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Judgment
5 paragraphs · 131 wordsNew IA-4617/2021:-
This is an Application by Operational Creditor under Rule 8 of the Insolvency and Bankruptcy Rules, 2016 for withdrawal of application bearing No. IB/328/ND/2020 along with Affidavit.
Counsel for the Operational Creditor is present. Through the prayer in this application, he seeks to withdraw the caption petition i.e., IB-328/ND/2020 filed under Section 9 of IBC, 2016. Heard the Counsel for the Operational Creditor and perused the paper book along with settlement agreement entered into between the parties.
In view of full and final settlement agreement submitted by the Counsel for the Operational Creditor, the present application is allowed in terms of Rule 8 of the IBC, 2016 and the main matter i.e., IB-328(ND)/2020 is dismissed as withdrawn.
The case folders and papers may be consigned to the record room.