AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
The matter is taken up through Virtual Hearing (VC).
IA-3590/2022 – This Application is filed under section 12-A of the Insolvency and Bankruptcy Code, 2016 by Mr. Shyamsunder Purshottamlal Dhanuka the IRP of the Corporate Debtor placing on record the Settlement Agreement of the Consent Terms dated 19.11.2022. The IRP is present in person and submits that whatever expenses that have been incurred by the Interim Resolution Professional during the pendency of the CIRP of the Corporate Debtor, that expenses has been paid by the Corporate Debtor to the full and final satisfaction of the IRP. Since the Corporate Debtor has paid the entire amount to the full and final satisfaction of the Operational Creditor nothing remains in the Company Petition. Accordingly the Corporate Debtor is allowed out of the rigour of the CIRP. In view of the above observations IA-3590/2022 is allowed and disposed of.
According the Company Petition No. C.P.(IB)4466/MB/2019 stands closed. File to be consigned to records.