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Judgment
ORDER
Ld. Interim Resolution Professional (IRP) with his Counsel appears. Ld. Counsel for the Financial Creditor appears. Ld. Counsel for the Corporate Debtor appears.
CA(IB) No. 1680/KB/2019 is filed by one of the shareholders of the Corporate Debtor under Rule 11 of the NCLT Rules for enabling him to record settlement of the debt and for closure of the proceedings on account of the settlement. Ld. Counsel for the Financial Creditor submits that the entire claim has been satisfactorily settled. Ld. IRP submits that no publication has been issued on account of reporting settlement by the Financial Creditor. However, IRP's fee for one month is directed to be paid and the Ld. Counsel for the Corporate Debtor showed his readiness to pay to the tune of Rs.50,000/-. Accordingly, there is nothing due to the applicant as on this date. Accordingly, this application is liable to allowed. The entire proceeding is dropped. IRP is hereby discharged. His fee as agreed is to be paid within one week and file memo to that effect at the Registry.
CP as well as the CA is disposed of accordingly. File is consigned to records.