https://www.taxtmi.com/caselaws?id=391608 A Section 7 insolvency petition may be withdrawn before admission where the parties have settled the dispute and filed a joint memo recording the settlement terms. Because the application had not been admitted, the Adjudicating Authority accepted the compromise, permitted withdrawal of the petition, and disposed of the matter on the basis of settlement. It also reserved liberty for the petitioner to initiate fresh proceedings if the corporate debtor failed to comply with the settlement terms. en-us Fri, 29 Nov 2019 00:00:00 +0530 Mon, 03 Feb 2020 11:24:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391608 A Section 7 insolvency petition may be withdrawn before admission where the parties have settled the dispute and filed a joint memo recording the settlement terms. Because the application had not been admitted, the Adjudicating Authority accepted the compromise, permitted withdrawal of the petition, and disposed of the matter on the basis of settlement. It also reserved liberty for the petitioner to initiate fresh proceedings if the corporate debtor failed to comply with the settlement terms. Case-Laws Insolvency and Bankruptcy Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391608