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Judgment
ORDER
This application is filed by the Suspended Management for disposal of the main petition i.e. CP(IB) No. 819 of 2019 on the ground of settlement.
We heard learned counsel for the Operational Creditor and learned counsel for the Suspended Management. We also heard learned FCA for the IRP. He submitted that matter is not filed by following the prescribed procedure stated under the IBC and Regulation thereunder. It is a fact that CoC is not constituted and party has settled the dispute.
Since, the matter is settled, we do not want to continue this proceeding on the point of proper filing of the application. Hence, the main company petition i.e. CP(IB) No. 819 of 2019 stands disposed of in view of the settlement.
Accordingly, IA/780(AHM)2022 is also allowed and disposed of.
We direct the Suspended Management to pay the sum of Rs. 75,000/- to IRP within three days from today.