- (1.) The matter is part heard and learned Counsel for the respondent has now stated that the talks for settlement are in progress.
(2.) Before admission, petition can be withdrawn on the request of the applicant as per the provisions of Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
(3.) We grant one last opportunity to the parties to reach amicable settlement before the next date of hearing failing which the matter shall be heard on merit.;