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Judgment
ORDER
The parties are represented through learned counsels.
The instant IA is filed under section 12A of the IB Code. The representative of the Suspended Management namely Mr. Chirag Raval as well as IRP is present in person.
The Corporate Debtor submitted that he has already paid the amount to the Financial Creditor as an OTS to the tune of Rs. 3.90 Crores vide its letter dated 12.09.2019 and the said amount is also accepted on 25.09.2019.
On perusal of the record, it is found that the application under section 7 was admitted on 26.09.2019. Since, the matter has already been settled with the Financial Creditor, the Applicant i.e. Bank of Baroda is praying for recalling of the order so passed in CP(IB) 630/2018.
Seen the application as well as the documents annexed therein. Also heard the representative of the Corporate Debtor and the IRP who have fairly conceded the fact.
Under the facts and circumstances as stated above, the instant IA is allowed and the order so passed on 26.09.2019 is hereby recalled. The Applicant/Financial Creditor is hereby directed to pay the expenses incurred therein, if any, along with the remuneration to the IRP within two weeks'.
Accordingly, the instant IA is allowed and stands disposed of.