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Judgment
This Appeal has been filed against the order dated 25.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench-IV, by which order the Adjudicating Authority admitted Section 7 Application filed by the Respondent.
IA No.4504 of 2023 has been filed bringing on record ‘Consent Terms’ dated 18.09.2023.
Learned Counsel for the Financial Creditor submits that the Consent Terms has already been entered, hence, Corporate Insolvency Resolution Process (CIRP) be not proceeded any further.
In view of the aforesaid, taking the Consent Terms on record, we close the CIRP.
Learned Counsel for the Appellant further submits that an amount of Rs.5 Lakhs which was directed by the Adjudicating Authority to be paid was already paid to the IRP.
We see that an Interim Order was passed by this Tribunal on 14.09.2023 i.e. less than a month from passing of the impugned order, we are of the view that the amount already paid suffice expenses and fee of IRP.
In terms of the Consent Terms, the Appeal is disposed of.