“ORDER

1. Ld. Counsel on both sides present.

2. Ld. Counsel appearing for the parties jointly submit that the total amount of Rs.2,31,60,579/-has been agreed to be paid in instalments. Let the settlement agreement be taken on record. In view of the above statements, Ld. Counsel appearing for the Financial Creditor seeks permission to withdraw this petition. Permission is granted. C.P. is disposed of as withdrawn.

3. File be consigned to the records.”

6. The case set up by the appellant is that there was default in the payment of the instalment by the respondent, therefore, the appellant filed RST.A (IBC)/16(KB) 2023 before the Tribunal in which the following prayers were made:

“a) Company Petition Number being C.P. (I.B) No. 598/KB/2019 be revived and restored to its original file and number against the Corporate Debtor in view of the settlement having being failed;

b) Adjudicate and dispose off the pending C.P. (I.B) No.598/KB/2019 against the Corporate Debtor.”

7. In the application for restoration notice was issued and reply was filed by the respondent. Ld. Tribunal dismissed the application on the ground tha