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Judgment
Heard the submissions made by the counsel for the IRP as well as corporate-debtor. Counsel for the IRP has submitted that the Hon'ble NCLAT in the aforesaid company (18) vide order dated 27.09.2019 directed the Adjudicating Authority to close the CIRP Proceedings and the corporate-debtor is released from the rigour of the CIRP and the IRP will hand over the charge to promoter/Board of Directors of the Corporate-debtor alongwith the records.
On perusal of the order passed by the Hon'ble NCLAT by which Hon'ble NCLAT in the aforesaid company (18) vide order dated 27.09.2019 directed the Adjudicating Authority to close the CIRP Proceedings and the corporate-debtor is released from the rigour of the CIRP and the IRP will hand over the charge to promoter/Board of Directors of the Corporate-debtor alongwith the records.
We think appropriate to dispose of their application in the light of order passed by the Hon'ble NCLAT. Therefore, in view of aforesaid decision we hereby close the CIRP proceedings and corporate-debtor is released from the rigour of the CIRP and the IRP is directed to hand over the charge to Promoter/Board of Directors of the Corporate-debtor alongwith the records.
With this order petition stands disposed of accordingly