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Judgment
In view of the orders passed in IA(IBC)/74/2023, this CP(IB)/21/94/AMR/2022 is closed.
IA(IBC)/74/2023:
Mr.Ravi Kumar, Counsel for the Applicant present. This application is filed by the RP under Section 119 of IBC seeking to discharge him as RP from the CIRP against the Personal Guarantor, since there is no repayment plan submitted. Heard the RP. It is under Section 118 of IBC, 2016 that the RP can be discharged when a repayment plan comes to an end prematurely and is not fully implemented. The situation where the repayment plan is not submitted by the Personal Guarantor is not dealt with under any of the provisions of the IBC. But however, considering that there exists no repayment plan, it is ordered that the RP shall be discharged from his duties as RP, leaving it open for the creditors to move for an application of Bankruptcy consequent to this order. With the above observations, this application is allowed. Accordingly, IA(IBC)/74/2023 is disposed of.