2019 (2) TMI 1759 - Tri - Insolvency and Bankruptcy

Withdrawal of the process which is signed by both the parties - amicable settlement application - HELD THAT - A settlement agreement has been placed on record. As a matter of fact, payment under the settlement has already been made. Thus, nothing remains to the adjudicated in these proceedings. The pronouncement of the order is cancelled and the draft order be kept in the sealed file along with the record - application allowed.

Summary

The National Company Law Tribunal in New Delhi issued an order for withdrawal of a process due to a joint application for settlement between the parties. A settlement agreement was reached, payment made, and the proceedings terminated as a result. Case numbers CA-218(PB)/2019 and C.P No. 1175(PB)/2018 are disposed of.