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Judgment
ORDER
IA 1482/2020 has been filed by the IRP, Mr. Ashok Kumar bringing on record the compromise effected between the Operational Creditor and the Corporate Debtor. It is submitted that though publication was effected in this case, no claim had been received and the settlement was arrived on the very next date of effecting publication.
The settlement deed has been placed on record. The said application is annexed with the affidavit of the IRP.
The application has been filed in the proper format by the IRP adhering to the provisions of the Code and regulation 12A in respect of the same. Therefore, there is no legal impediment in terminating the CIR process in terms of the provision under Section 12(A) of the Code.
The application stands allowed and the CIR process stands terminated. The Corporate Debtor is released from the rigors of the moratorium and is permitted to function through its own Board.
Petition stands disposed off. File be consigned to record room.