https://www.taxtmi.com/caselaws?id=293382 The Tribunal allowed the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated by the Operational Creditor against the Corporate Debtor under the Insolvency and Bankruptcy Code, 2016. Both parties reached a settlement agreement for the payment of Rs. 11,86,356/- by the Respondent to the Petitioner, with provisions for revival of the petition in case of default. The Tribunal directed the Respondent to comply with the settlement terms outlined in the Joint Memo and granted the Petitioner the liberty to file a fresh Company Petition if necessary. en-us Mon, 18 Nov 2019 00:00:00 +0530 Tue, 09 Feb 2021 09:41:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293382 The Tribunal allowed the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated by the Operational Creditor against the Corporate Debtor under the Insolvency and Bankruptcy Code, 2016. Both parties reached a settlement agreement for the payment of Rs. 11,86,356/- by the Respondent to the Petitioner, with provisions for revival of the petition in case of default. The Tribunal directed the Respondent to comply with the settlement terms outlined in the Joint Memo and granted the Petitioner the liberty to file a fresh Company Petition if necessary. Case-Laws Insolvency and Bankruptcy Mon, 18 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293382