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TMI Blog2019 (11) TMI 1577X X X X Extracts X X X X X X X X Extracts X X X X ..... Petitioner : Ms. Meenakshi V. For the Respondent : Abhijit Atur ORDER RAJESWARA RAO VITTANALA, JUDICIAL MEMBER - 1. C.P.(IB) No.202/BB/2019 is filed by M/s. J.R. Metal Chennai Ltd., ('Petitioner/Operational Creditor'), u/s. 9 of IBC, 2016, r/w Rule 6 of I&B (AAA) Rules, 2016, by inter alia, seeking to initiate Corporate Insolvency Resolution Process (CIRP) in respect of M/s. Value Desi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Rules made thereunder. 4. Both the learned Counsels has filed Joint Memo dated 18-11-2019 (which is taken on record) which reads as under: "1. The Petitioner/Operational Creditor has approached this Tribunal seeking a declaration that the Respondent is insolvent and to pass appropriate orders in furtherance thereof. 2. The Respondent has offered a sum of Rs. 11,86,356/- as full and final se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Meenakshi V., learned Counsel for the Petitioner, submits that the issue has been settled between the parties. Therefore, she urged the Adjudicating Authority to permit the Petitioner to withdraw the instant Company Petition subject to honoring the cheques as mentioned in the Joint Memo dated 18-11-2019, by reserving liberty to the Petitioner to file fresh Company Petition, in the event the Respo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cheques as mentioned in the said Joint Memo. 8. In view of the above facts and circumstances of the case, C.P. (IB) No. 202/BB/2019 is hereby disposed of as withdrawn by directing the Respondent to strictly adhere to the payment schedule as mentioned in the Joint Memo dated 18-11-2019 without fail, failing which the Petitioner is at liberty to file fresh Company Petition in accordance with law. N ..... X X X X Extracts X X X X X X X X Extracts X X X X
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