AI Structured Summary
Not yet generated for this judgment
Judgment
IA/435/2022:-
By filling this application the applicant has prayed for the following reliefs:-
“Allow the present application and permit the Operational Creditor to unconditionally withdraw the present Petition/CIRP proceedings in view of the amicable settlement of the claim between Operational Creditor, the applicant and Corporate Debtor to the Petition in terms of the Full and Final Settlement Agreement dated 24.01.2022.
Pass any order or give directions as this Hon'ble Tribunal may deem necessary and proper.”
Heard the Ld counsel appearing for the applicant/IRP, as well as operational creditor and the corporate debtor and perused the averments made in the application.
The applicant/IRP submits that the matter has been settled between the parties and CoC has not been constituted as yet. He further submits that in para 6, the applicant has mentioned this fact that even after advertisement, no claim has been received by the applicant. He further submits that the operational creditor has submitted the Form FA at page 22 of application and he has received his fee and expenses.
Considering this submissions that the fee and expenditure of IRP has already been paid and there is no claim received after the publication of the advertisement, therefore, we permit the applicant to withdraw the application.
Accordingly, the company petition bearing no. IB-412/2020 is dismissed as withdrawn.
With this, the present IA stands disposed of.