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Judgment
Heard the learned IRP in I.A.14/2020 and perused the record. The above I.A.14/2020 is filed by the IRP for withdrawal of the admission order dated 29.01.2020 passed by this Tribunal where under, this Tribunal admitted the above company petition and appointed the applicant as IRP. It is the submission of the learned IRP that subsequent to the aforesaid admission order, both parties have entered into an amicable settlement upon receiving the amount by the Financial Creditor.
It is the submission of the RP that he has received application dated 05.02.2020 under Form FA Regulation 30A of the CIRP Regulations from the petitioner/FC informing the settlement.
In the light of the above facts and circumstances this Tribunal feels that the above I.A. is to be allowed and the Order of Admission dated 29.01.2020 has to be withdrawn. Accordingly, the above I.A. is allowed and the Admission Order dated 29.01.2020 admitting the above Company Petition (IB) No.35/GB/2019 stands withdrawn in view of the settlement entered into between the parties