AI Structured Summary
Not yet generated for this judgment
Judgment
This is an application filed by the RP under Section 12A of the IBC, 2016 read with Regulation 30A of the IBBI (IRP for CP) Regulations, 2016 seeking withdrawal of CIRP of the Corporate Debtor. Heard Ld. Counsel for the RP. It was submitted that in the 6th CoC meeting held on 23.10.2023, CoC by 100 per cent voting has resolved to withdraw the CIRP. In view of the settlement arrived between the parties, and taking into account, the provisions of Section 12A of the IBC and Regulation 30A of the IBBI Regulations, liberty is granted to the Applicant to withdraw the application filed by the Financial Creditor under Section 7 i.e. CP (IB)-881/ND/2020. The same is dismissed as withdrawn. The Corporate Debtor is no longer will be under the CIRP. The RP is also discharged from his duties. However, the RP should handover all the documents and material to the Corporate Debtor. With these observations, the present IA is disposed off. All other pending IAs have become now infructuous.