Tribunals and CommissionsDivision Bench(2022) 06 NCLT CK 0638

Indiabulls Distribution Services Ltd vs Vasathi Housing Ltd

National Company Law Tribunal · Decided on 1 June 2022

HON’BLE JUDGES
Bhaskara Pantula Mohan, Member (J) · Binod Kumar Sinha, Member (T)
CASE NUMBER
TRANSFER PETITION NO. COMPANY PETITION/APPLICATION NO.IA (IBC)/478/2022 in CP (IB) No.66/9/HDB/2020

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Judgment

3 paragraphs · 128 words

ORDER

IA 478/2022 - Learned Counsel for Applicant, Learned IRP and Learned Counsel for Corporate Debtor appeared in person.

This is an application filed under Section 12A of Insolvency & Bankruptcy Code, 2016. The Applicant, who is IRP herein, submitted that both the parties have settled the matter amicably and the payments as are required to be made have already been made. In view of the same, they have come out with this application for restoring back the Corporate Debtor Company on the normal functioning by bringing it back from the CIRP. Form FA has also been submitted. In view of the same, the application is allowed and the Corporate Debtor Company is discharged from CIRP process. With this direction, IA 478/2022 is allowed and stands disposed of.