https://www.taxtmi.com/caselaws?id=777292 NCLAT allowed the appeal, set aside the NCLT's dismissal of the restoration application, and revived the original petition. The court held the withdrawal was made pursuant to a settlement/consent deed that expressly preserved the appellant's right to restore the petition if the respondent defaulted on payments, and the settlement had been placed on record when the NCLT permitted withdrawal. Dismissal on the technical ground that the withdrawal order lacked an express liberty to revive was held erroneous. The matter is remitted to the NCLT for disposal in accordance with law. en-us Mon, 25 Aug 2025 00:00:00 +0530 Thu, 28 Aug 2025 08:32:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777292 NCLAT allowed the appeal, set aside the NCLT's dismissal of the restoration application, and revived the original petition. The court held the withdrawal was made pursuant to a settlement/consent deed that expressly preserved the appellant's right to restore the petition if the respondent defaulted on payments, and the settlement had been placed on record when the NCLT permitted withdrawal. Dismissal on the technical ground that the withdrawal order lacked an express liberty to revive was held erroneous. The matter is remitted to the NCLT for disposal in accordance with law. Case-Laws IBC Mon, 25 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777292