- (1.) Learned counsel for the parties' state that some settlement has been arrived at and in view thereof nothing survives for adjudication. Learned counsel for the petitioner applies for withdrawal of the petition on that ground.
(2.) We also find that the respondent is a solvent company. Consequently, the petition is dismissed as withdrawn in view of Rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.;