2020 (1) TMI 37

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....ishra, Technical Member R.C. Venkatesh Rao for the Petitioner. Krishna Prasad for the Respondent. ORDER Rajeswara Rao Vittanala, C.P.(IB)No.274/BB/2019 is filed by M/s. MOS Logi Technologies Private Limited (hereinafter referred to as 'Petitioner/ Operational Creditor') under Section 9 of the IBC, 2016 R/w Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating ....

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....rasad, learned PCS for the Respondent. We have perused the pleadings of the parties and extant provisions of the Code. 4. Both the learned PCS have filed a Joint Memo of Settlement dated 30.08.2019 (which is taken on record), which reads as under: "We the Operational Creditor and Operational Debtor have arrived at the following settlement: Total claim as per Demand Notice (Form-3) ....

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....e, Bangalore 001400 11,15,510 6. Cheque 30th December 2019 HDFC Bank, Agara lake, Bangalore 001401 11,15,510 7. Cheque 30th January 2020 HDFC Bank, Agara lake, Bangalore 001402 11,15,510 8. Cheque 28th February 2020 HDFC Bank, Agara lake, Bangalore 001403 8,00,000 9. Cheque 25th February 2020 HDFC Bank, Agara lake, Bangalore ....

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....as mentioned in the Joint Memo dated 30.08.2019, and thus the same may be disposed of as withdrawn as prayed for by the Petitioner. 5. Since the issue raised in the Company Petition was resolved between the parties before the case is admitted, we are inclined to permit the Petitioner to withdraw the main Company Petition in the interest of Justice. 6. In the result, C.P.(IB) No.274/BB/2019 i....