AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
IA-1507/2022 – This IA is filed by the Applicant under section 12-A of the Insolvency and Bankruptcy Code, 2016 read with 30A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 seeking directions/ permission from this Bench for Withdrawal of the Company Petition.
It is submitted by the Applicant that the expenses as stipulated under Regulation 30A read with Regulation 33 of the CIRP Regulations, have been paid as on the date of the Application. The Suspended Director of the Corporate Debtor have deposited an amount of Rs. 61,84,00,000/- (Rupees Sixty-one Crores Eighty Four Lakhs) which has been duly appropriated in the account towards unchanged interest based on the letter dated 31.03.2022.
In view of the above statement in the Application the Counsel for the Applicant submitted for Withdrawal of the Company Petition. We are satisfied with the above submissions made by the Counsel for the Financial Creditor, hence the IA-1507/2022 is rendered infructuous and the Company Petition No. C.P.(IB)331/(MB)2020 is allowed to be Withdrawn. In view of the same, the IA-2611/2021 and IA-610/2022 are taken on board and disposed of. Registry is directed not to list IA-2611/2021 and IA-610/2022 on the cause list.