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Judgment
IA/2787/2022
IA/2787/2022 is a summary of events up to 08.06.2022 accompanied by copies of public announcements submitted for the perusal of NCLT by the IRP. The same is taken on record and IA is allowed.
IA/2928/2022
This is an application under Section 12A of the IB Code submitted by the Ld. Counsel for the IRP read with Regulation 30A of IBBI (IRP for CP) Regulations 2016 and read with Rule 11 of the NCLT Rules 2016, seeking permission to withdraw the captioned petition in view of the amicable settlement between parties.
Having heard the submissions made by the Ld. Counsel and having perused the contents of the application and the supporting documents, this Adjudicating Authority is satisfied that leave can be granted in this case for withdrawal of the matter.
As prayed for, withdrawal of the CIRP against the Corporate Debtor is directed in this matter and the matter stands dismissed as withdrawn. The Corporate Debtor is relieved from the clutches of CIRP. The IRP is discharged from the duties and responsibilities and directed to hand over all the documents/information and possession of the property, if any, back to the Corporate Debtor. Ld. Counsel for the IRP is exempted from filing of necessary intimations and forms with RoC regarding the initiation of CIRP in view of amicable resolution of the matter. Ld. Counsel for the Operational Creditor is also present. The matter stands disposed of in all respects.