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Judgment
ORDER
The Ld. Counsel for the Financial Creditor and the Ld. Counsel for the Corporate Debtor appears.
The Ld. Insolvency Resolution Professional and the Ld. Counsel for the Insolvency Resolution Professional appears.
The Application CA(IB) No. 1513/KB/2019 is filed by the Financial Creditor under Rule 11 of the NCLT Rules, 2016 for withdrawal of the main CP on ground of settlement of the dispute in between the parties.
We have heard all the Ld. Counsels.
The Committee of Creditors is yet to be formed. Since the parties have settled the dispute and the fees and claims filed before the Insolvency Resolution Professional have also been settled, we allow the withdrawal under Rule 11 of the NCLT Rules, 2016.
The matter stands withdrawn.
The CA(IB) No. 1513/KB/2019 and CP(IB) No. 614/KB/2019 are, accordingly, disposed off as withdrawn.