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Judgment
ORDER
Ld. Counsel for the Interim Resolution Professional (IRP) as well as Ld. Counsel for the Financial Creditor is present.
CA(IB) No. 147/KB/2019 : This is an application filed u/s. 12A of the Insolvency and Bankruptcy Code, 2016 and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations 2016 for withdrawal of C.P.(IB) No. 901/KB/2018, which had been admitted by the order dated 16/11/2018.
It is submitted that the matter was settled and the Committee of Creditors (CoC) in the meeting dated 10/01/2019 unanimously approved the resolution for moving an application for withdrawal of the C.P. It is further submitted that requirement of Section 12A of the Code and Regulation 31 of the Regulations will be meted out and that for paying of resolution cost a bank guarantee has been submitted and the Ld. RP has issued NOC in regard to the of bank guarantee.
Being satisfied that the matter was settled out of the Tribunal and this application has meted out all the requirements as per the Code and Regulations, it is liable to be allowed. Accordingly allowed.
CP(IB) No. 901/KB/2018 is disposed of as withdrawn.