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Judgment
IA/181(AHM)2023 is filed by the IRP under Section 12A of IBC, 2016 read with Regulation 31A of IBBI, Regulations 2016 and also read with Rule 11 of NCLT Rules, 2016
We heard Ld. Counsel for the applicant, also perused the record.
The CoC in its meeting dated 03.11.2022 by 100% vote passed a resolution to withdraw the CIRP. We recorded this fact. Since the CoC passed a resolution by 100% vote for withdrawing the CIRP of the Corporate Debtor, we allow this application. Accordingly CIRP stands withdrawn. The Corporate Debtor is released from all rigours of CIRP and moratorium stands vacated.
We direct the IRP to handover custody of all documents and assets of the corporate debtor to the Suspended Management.
In view of this, IA/181(AHM)2023 stands disposed of as withdrawn.
IA/63(AHM)2023
Since CIRP of the corporate debtor is withdrawn, this IA become infructuous. Hence, stands disposed of.