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Judgment
This Application filed by the Applicants under Section 12A of the Insolvency and Bankruptcy Code, 2016 Read with Regulation 30-A of the Insolvency and Bankruptcy Code (Corporate Insolvency Resolution Process) Regulations, 2016 seeking to withdraw the CP (IB)/79/9/AMR/2020, which is admitted by this Tribunal vide its order dated 17.10.2022. The Regulation 30-A of the IBC (CIRP) Regulations, 2016, is re-produced under:
"30-A Withdrawal of application – (1) An application for withdrawal under Section 12-A may be made to the Adjudicating Authority –
(a)before the constitution of the committee, by the applicant through the Interim Resolution Professional"
The IRP states that complete fee was received and he filed Form- FA and recorded the same. Since, there is a settlement between the parties, I.A (IBC)/158/2023 is allowed and permission is granted to withdraw the Petition. Consequently, CP (IB)/79/9/AMR/2020 is dismissed as withdrawn.
Accordingly, CP(IB)/79/9/AMR/2020 along with IA(IBC)/158/2023 are disposed of.