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Tribunals and CommissionsDivision Bench(2020) 07 NCLT CK 0580

In Re: CP(IB) 123 of 2019 (Withdrawal under Section 12A)

National Company Law Tribunal · Decided on 17 July 2020

HON’BLE JUDGES
Virendra Kumar Gupta, Member (Technical) · Madan Bhalchandra Gosavi, Member (Judicial)
RESULT
Disposed of
CASE NUMBER
IA 377 of 2020 in CP(IB) 123 of 2019

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Judgment

6 paragraphs · 105 words

Learned Counsel Mr. Arjun Sheth appeared for the original Operational Creditor.

IA 377/2020 is filed by the RP under Section 12A of the IBC, 2016 for withdrawal of main CP on the ground of settlement.

We heard the Learned Counsel for the COC / RP.

We perused the record.

The COC in its meeting dated 03.07.2020 passed a Resolution with 100% votes for withdrawal of the CP(IB) 123 of 2019. Hence, the IA No.377 of 2020 is allowed. The CP(IB) stands withdrawn.

The Corporate Debtor stands discharged from the rigours of CIRP. The RP appears to be paid fees. Hence, the proceeding stands disposed off,