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Judgment
As per the order dated 31.08.2023 passed by Hon'ble NCLAT, the matter has been settled between the parties. Keeping in view the order dated 31.08.2023 passed by Hon'ble NCLAT, CP(IB) No. 36/Chd/Pb/2020 is liable to be dismissed. Moreover, there is no representation on behalf of the petitioner. So CP(IB) No. 36/Chd/Pb/2020 is disposed of in terms of order dated 31.08.2023 passed by Hon'ble NCLAT on the basis of settlement agreement dated 25.07.2023. As a consequence, moratorium declared under Section 14 of the Code comes to an end and the Corporate Debtor is discharged from the claims in lieu of the said petition and is free from the rigors of the CIR Process and Regulations made thereunder. Henceforth, the IRP is discharged and the Board of Directors is restored to its original position.
In the meantime, learned counsel for the RP is at liberty to move an application for fee and expenses incurred during the process as directed by Hon'ble NCLAT in its order dated 31.08.2023. CP(IB) No. 36/Chd/Pb/2020 is disposed of accordingly.