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Judgment
ORDER
IA No.402/2022
IA No.402/2022 is an application to place on record the Form-2 submitted by the RP and vakalatnama filed on behalf of IRP. Same is taken on record.
Accordingly, IA No.402/2022 stands disposed of.
IA No.422/2022 & IA No.404/2022
IA No.422/2022 has been filed under Section 12A of IBC & Rule 11 of NCLT Rules, 2016 and Regulation 30A of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 for withdrawal of CIRP against the Corporate Debtor by the IRP. CoC has not been constituted so far and Form-FA has been filed.
It is stated by the learned counsel for the IRP that the parties have settled the matter. The settlement agreement is dated 12 November, 2022 and the same is the date of Form-FA. Since the parties have arrived at settlement, therefore keeping in view the relevant provisions under Section 12A of IBC & Rule 11 of NCLT Rules, 2016 and Regulation 30A of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the present application (IA No.422/2022) is allowed and disposed of. The Corporate Debtor is released from rigours of the CIRP and IRP is discharged. Thedues have been paid to the IRP. The main CP (IB) No.62/ALD/2021 is disposed of accordingly.
Since, the IA No.422/2022 is allowed thus, IA No.404/2022 is rendered infructuous and disposed of.