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Judgment
ORDER
I.A. 3086/2024
This application has been filed by the IRP under section 12A of the IBC for withdrawal of the main company petition which is filed under section 9 of IBC. Ld. counsel for the IRP submitted that the default amount was of Rs. 24,12,582/ and the corporate debtor has agreed to pay Rs. 13,84,000/ against the full and final settlement of all the claims as raised by the Creditor which will be payable in instalments by the Corporate Debtor to the Operational Creditor. Out of which Rs. 10,00,000/- has already been received by the OC and the balance amount by way of PDC dated 05.08.2024 for an amount of Rs. 3,84,000.00 has also been handed over to the OC. The Operational Creditor has signed the FA which is annexed to the application.
In view of facts and circumstances of the case, the IA is allowed and the main company petition is dismissed as withdrawn by releasing the Corporate Debtor from all rigours of moratorium.