2019 (5) TMI 1826

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....imited on 12.04.2019 and the Prayers/Reliefs sought therein are reproduced below:-" a. This Hon'ble Tribunal may kindly be pleased to take on record the Consent Terms dated April 11, 2019 executed between the parties, b. This Hon'ble Tribunal may be pleased to declare that the Consent Terms dated April 11, 2019 executed between the parties are valid and binding on the parties c. This Hon'ble Tribunal may be pleased to discharge the Corporate Debtor in view of full and final settlement and discharge of the claims raised against the Corporate Debtor, d. This Hon'ble Tribunal may be pleased to dispose of the Captioned Petition in view of the said settlement arrived at and entered into between....

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....awal Application as well as the Settlement Terms. He has informed that around Rs. 4 Lakhs bills have been raised which are going to the paid/reimbursed by the Petitioner. According to his statement, no financial creditor had approached him or lodged any claim till date. Virtually he had nothing to add anymore during the course of hearing primarily on the ground that in a situation when the Debtor had settled the outstanding Debt by making payment to the satisfaction of the Petitioner before the constitution of Committee of Creditors, therefore, the Debtor can settle the Debt. Consequently, u/s. 12A, Petitioner can withdraw the Insolvency Petition. 6. U/s. 12A an Adjudicating Authority can allow the withdrawal of Application admitted u/s.....