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Judgment
ORDER
IA (IBC)/1092/2023
This application is filed by the Resolution Professional seeking for withdrawal of the CIRP proceedings ordered against the Corporate Debtor by the order of this Tribunal dated 25.05.2023, inter-alia, on the ground that post admission the Corporate Debtor has entered into a settlement with the Operational Creditor under a memorandum of compromise dated 03.07.2023. It is represented by the IRP that this application is moved before constitution of CoC as such the question of passing the Resolution does not arise in this case. Perused the Form FA and also the compromise agreement. In the light of the ordering CIRP against the Corporate Debtor and hereby recall our order dated 25.05.2023 settlement arrived at, we allow this petition consequently the moratorium order against the Corporate Debtor is hereby revoked. The Corporate Debtor is at liberty to function on its own through its Board of Directors as per law with these directions the IA (IBC)/1092/2023 is disposed. No costs.