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Judgment
ORDER
Ld. Counsel for the applicant as well as Ld. Sr. Counsel for the CD are present physically. Ld. Counsel for the IRP is present through VC.
This is an Application filed by the IRP u/s 12A of the Insolvency & Bankruptcy Code, 2016 to allow the Operational Creditor to withdraw the Application, bearing No.IB/78/ND/2024.
Ld. Counsel for the IRP submitted that after settlement agreement, entered into between the parties and CD made entire settlement amount and there is no due from the CD. He further submitted that cost has also been received by the IRP.
The settlement is taken on record.
Considering the facts and circumstances and submissions on behalf of the parties, this Tribunal is inclined to permit the IRP to withdraw the IB/78/ND/2024. Accordingly, IA/431/ND/2025 is allowed. Consequently, IB/78/ND/2024 is dismissed as withdrawn.