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Judgment
2 paragraphs · 119 wordsNew IA/1795/2024:-
This is an application filed by the Financial Creditor in terms of Rule 11 of the NCLT Rules, 2016 and Rule 8 of the Insolvency and Bankruptcy (Adjudicating Authority) Rules, 2016, seeking withdrawal of Section 7 Petition i.e. IB-208/ND/2022. Heard the submissions made by the Ld. Counsel on behalf of the Applicant who submitted that the matter has been settled with the Corporate Debtor and as per settlement, the amount agreed has been received by the Section 7 Petitioner i.e. RBL Bank Ltd. In view of this liberty is granted to the Applicant to withdraw the Section 7 Petition i.e. IB-208/ND/2022 and the same is dismissed as withdrawn. The present application i.e. New IA/1795/2024 is disposed off.