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Judgment
3 paragraphs · 116 words
ORDER
CA 308/2019 has been filed for termination of the CIR process, as the parties have compromised the claim. COC has not been constituted as yet. No claim has been received as submitted by the Ld. IRP. In view of the decision made by the Hon'ble Apex Court in the matter of Swiss Ribbons versus Union of India, writ petition, the parties are entitled to the said prayer.
Accordingly, the CIR process stands determined. The Corporate Debtor is released from the rigours of the moratorium and is entitled to function through its own Board. Expenses incurred by the IRP shall be duly reimbursed to him by the Corporate Debtor. Copy of the order be given dasti.