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Judgment
Advocate, Mr. Dhruvit Shah is present on behalf of the petitioner.
The instant application is filed under Section 12A of the Insolvency and Bankruptcy Code, 2016 read with Regulation 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 read with Rule 11 of NCLT Rules, 2016, with a prayer to allow the applicant to withdraw Corporate Insolvency Resolution Process.
It is a matter of record that CP (IB) 492 of 2019 was admitted on 24.11.2020. On admission of the IB Petition, IRP was appointed, thereafter, the parties settled in between.
Learned lawyer appearing for the petitioner submitted that the petitioner has received the total amount. Hence, nothing remains in the IB Petition. He further submitted that CoC is not yet constituted and dues of the IRP has already been paid. In view of that, the instant application is filed by the petitioner for withdrawal of the Corporate Insolvency Resolution Process.
In view of the above, the instant application is allowed and disposed of.
Accordingly, CP (IB) No. 492 of 2019 is disposed of as withdrawn.