In Re: Corporate Debtor CP(IB) 172/2019 (Withdrawal of CIRP)

The regular court proceedings have been suspended/closed as per Notice dated 22.03.2020 of NCLT, Principal Bench and subsequent follow up orders due to the COVID-19 pandemic.

The Interlocutory Applications i.e. IA Nos. 72, 73 & 74 of 2020 are placed before me. Counsel for both the parties are present in the Video Conference (VC). After hearing the submissions, IA No.72/2020 seeking to withdraw the CP (IB) No.172/9/AMR/2019 under Section 12A of the IBC, 2017 is allowed vide separate sheets. Accordingly, the CP (IB) No. 172/9/AMR/019 is disposed as withdrawn.

In view of the CP is withdrawn, the IA Nos. 74/2020 and 75/2020 are dismissed as infructuous.

Upload the same onto the NCLT website. A copy of the order may also be sent to the Registrar, NCLT as per Circular dated 14.04.2020 for necessary action at his end.

This is an application filed under section 12A of the Insolvency & Bankruptcy Code, 2016 read with Regulation 30(A) of the Corporate Insolvency Resolution Process (CIRP) Regulations, 2016. The prayer in the Application is to permit the withdrawal of the Petition CP (IB) No. 172/9/AMR/2019 under section 12A of the Code.

Heard the Counsel for the Petitioner. It has been categorically stated that full payment has already been made to the Creditors by the Suspended Board of Directors and to that effect Form A has also been filed. In view of the same the Application is allowed and CP (IB) No.172/9/AMR/2019 is closed as withdrawn.

In view of the CP is withdrawn, the IA Nos. 74/2020 and 75/2020 are dismissed as infructuous.