AI Structured Summary
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Judgment
O R D E R
Ld. Counsel for the IRP present. IRP is present in person. Ld. Counsel for the Financial Creditor present. Ld. Counsel for the Corporate Debtor present.
IA(IBC)/398(KB)2022
IA(IBC)/398(KB)2022 is not on Board today. On mentioning, this IA is taken on Board today for consideration.
This is an application filed by the IRP appointed in CP(IB)/756(KB)2020, which was admitted on 11/03/2022, initiating CIRP against the Corporate Debtor, R. K. Nirman Pvt. Ltd. IRP submits that public announcement has been made on 14/03/2022. However, the matter has been settled between the Financial Creditor and the Corporate Debtor. After receipt of Memorandum of Understanding, Form – FA has been filed.
In view of the settlement between the parties, CP(IB)/756(KB)2020 is allowed to be withdrawn and the CIRP initiated against the Corporate Debtor on 11/03/2022 is recalled. Therefore, the Corporate Debtor, is hereby released from the rigor of the CIRP. IRP is discharged from his duties. IRP is directed to hand over all documents in his possession to the Board of Directors of the Company. It is submitted by the Ld. Counsel appearing for the Financial Creditor that IRP’s fees and expenses has already been paid.
Both IA and CP shall stand disposed of.
File be consigned to the records.