AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
The matter is taken up through Physical Hearing.
IA No. 2080/2023 – Adv. Mily Ghoshal appeared for the IRP/Applicant. Ms. Kalpana Gandhi, IRP in person present. The above application has been filed by the IRP, Ms. Kalpana Kamlesh Gandhi, under Section 12A of Insolvency & Bankruptcy Code, 2016 r/w Rule 11 of the NCLT rules, 2016 & Regulation 30A of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking withdrawal of the main Company Petition No. 179/IB/MB/2022 in view of the settlement entered into between the Operational Creditor and the Corporate Debtor.
The Applicant further submits that the Operational creditor has submitted Form-FA dated 18.05.2023 for withdrawal of CIRP process. The Applicant further submits that the there are no CIRP expenses incurred.
After hearing the submissions made by the IRP and upon perusing the material available on record, this Bench is of the view that the above application deserves to be allowed and accordingly, the IA No. 2080/2023 is allowed and C.P. No. 179(MB) 2022 stands disposed of by withdrawing the CIRP order dated 12.05.2023 passed by this Bench and also by releasing the Corporate Debtor from all rigors of moratorium.
In view of the disposal of the above Company Petition, all the pending IA’s and MA’s, if any, shall also stand disposed of.
File be closed and consigned to record.