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Judgment
ORDER
Ld. Counsel for the operational creditor appears. Ld. Counsel for the corporate debtor appears. IA(IB) 402/KB/20 is filed under Rule 11 of NCLT Rules for disposal of CP on ground of settlement. Corporate Debtor is admitted in CIRP on 17.02.2020 but since parties have settled the dispute, we allow this application subject to cost of Rs.50,000/- to be deposited by the corporate debtor with the Registrar, NCLT Escrow Account, Kolkata Bench, Kolkata and produce receipt of deposit within a week. Upon production of deposit of Rs.50,000/-, corporate debtor shall be free from all rigours of CIRP. We also direct the corporate debtor to pay fees of IRP, as per the rules. In view of this, IA and CP stand disposed off.