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Judgment
14.07.2025 This appeal is filed by Abhijeet Infrastructure Ltd. against the order dated 17.05.2024 by which an application filed by the promoters and shareholders of the Corporate Debtor, namely, Abhijeet Hazaribagh Toll Road Ltd., being aggrieved against the settlement arrived at by its Liquidator, under Vivad se Vishwas II Scheme pursuant to a recommendation by him and decision by the Stakeholders Consultation Committee dated 10.07.2023 has been dismissed with cost of Rs. 5 Lakhs which has been ordered to be deposited in the Defence Fund of India.
Notice in this appeal was issued on 18.07.2024.
During the pendency of this appeal, Ms. Prachi Johri, Advocate had appeared on 02.07.2025 and stated that the Appellant has already gone into CIRP on 31.01.2025 and Satish Gupta has been appointed as IRP who has further been confirmed as RP.
She had also submitted that the CoC has already taken a decision for withdrawal of this appeal but for that matter, she had time to file application in this regard.
Today, two applications have been listed in this court bearing I. A. No. 3895 of 2025 & I.A. No. 3896 of 2025. I.A. No. 3895 of 2025 is filed by the RP of Abhijeet Infrastructure Ltd. for withdrawal of the appeal in terms of the decision taken by the CoC in the 5th meeting held on 27.06.2025 and I.A No. 3896 of 2025 again filed by the same RP for waving off the cost imposed upon the Appellant by the Impugned Order.
Mr. Akash Agarwal has appeared on behalf of Respondent No. 1 but no one is appearing on behalf of Respondent No. 2 & 3 today and in the past as well.
We have considered the prayer made in both the aforesaid application. Counsel for Respondent No. 1 has not raised any objection to the prayer made in the application.
Keeping in view the fact that the Appellant, namely, Abhijeet Infrastructure Limited who had filed this appeal through its authorised representative has already gone into CIRP dated 31.01.2025 and its CoC has already taken a decision on 27.06.2025 to withdraw the present appeal, therefore, the application bearing I.A. No. 3895 of 2025 is hereby allowed and the present appeal is hereby dismissed as withdrawn.
In so far as, I.A. No. 3896 of 2025 is concerned, the RP of the Appellant has submitted that since the Appellant has already gone into CIRP therefore, the cost imposed by the Impugned Order may be waived.
We have gone through the submission made by Appellant in this regard and hence I.A No. 3896 of 2025 is also hereby allowed, especially when Respondent No. 1 has also appeared before us and Respondent No. 2 and 3 are not present.
With these observations, the aforesaid appeal is hereby dismissed as withdrawn.