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Judgment
O R D E R
Ld. Pr. CS along with the RP appeared. Ld. Counsel for the Operational Creditor appeared. Ld. Counsel for the Corporate Debtor appeared.
Ld. Pr. CS for the RP submits that the IA(IB) No. 976/KB/2020 has been filed u/s. 12A of the Code for withdrawal of the CP as the matter has been settled between the parties vide Settlement Agreement dated 12/03/2020, before the formation of the CoC u/s. 21 of the Code.
Ld. Counsel for the Operational Creditor submits that the Operational Creditor has no objection regarding withdrawal of the CP as the matter has been amicably settled between the parties vide Settlement Agreement dated 12/03/2020.
Since the matter has been settled between the parties out of the Tribunal, we are allowing the application with direction upon the Corporate Debtor to pay all pending fees and resolution costs, if any, to IRP. Since the IA is allowed, CP is disposed of as withdrawn. IA is also disposed of accordingly.
The Registry is directed to send e-mail copy of the order forthwith to all the parties inclusive of the Counsel.