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Judgment
ORDER
Ld. Counsel for the parties present.
IA(I.B.C)/941(KB)2023
This is an application filed by the IRP u/s. 12A of the Insolvency and Bankruptcy Code, 2016 read with regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and under rule 11 of the NCLT Rules, 2016.
Ld. Counsel appearing for the Operational Creditor submits that the petitioning Operational Creditor and the Corporate Debtor have arrived at a mutual settlement in the matter
Since there are no other claims and cost of CIRP including fees of IRP has been paid, there can be no objection for withdrawal of the Company Petition. Therefore, it is ordered as follows: -
CIRP initiated against the Corporate Debtor is hereby closed;
The Board of Directors of the Corporate Debtor is restored to its original position;
The IRP is discharged from his responsibility;
The IRP is hereby directed to handover to the Board of Directors of the Corporate Debtor all its assets and books of account and other documents immediately.
With the above directions CP/1581/KB/2019 all connected IAs shall stand disposed of.
File be consigned to the records.