AI Structured Summary
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Judgment
2 paragraphs · 122 words
IA No. 226 of 2021 is filed by IRP for withdrawal of CP under Section 12 A. We heard IRP and learned counsel for the Corporate Debtor. Learned counsel appeared for the Financial Creditor. We heard him also. It appears that parties have settled the dispute by sanctioning of OTS and no one has come ahead to object this. CoC was not been formed as yet. We allow this application. Hence, IA No. 226 of 2021 is allowed and disposed of. Corporate Debtor is released from all rigours of CIRP. IRP is directed to hand over control of the Corporate Debtor to the Suspended Management within three days from today along with all records.
Hence, main CP and IA stand disposed of.