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Judgment
ORDER
Heard Sh. Yogi Sharma, Advocate for the applicant in IA No. 187/2022. The prayer in the present application which has been filed under Section 12A of IBC, 2016, is for withdrawal of CIRP against the corporate debtor which was initiated v.o.d. 27th April, 2022 and the memorandum of settlement i.e. 23rd May, 2022 has been placed on record.
It is stated by the counsel for the applicant/ RP that the application be allowed in view of settlement arrived between the parties and all dues being paid by the operational creditor to the corporate debtor.
In view of the statement made by the counsel for the applicant and the resolution passed by CoC in the 2nd meeting dated 15.06. 2022 and settlement arrived between the parties IA No. 187/2022 is allowed and accordingly, CP (IB) 75/ALD/2020 is dismissed as withdrawn. Consequently, Moratorium under Section 14 of the Code comes to an end. The Interim IRP/RP is discharged. Respondent-corporate debtor is released from all the rigours of law and is allowed to function independently through its Board of Directors from immediate effect.