AI Structured Summary
Not yet generated for this judgment
Judgment
O R D E R
The matter is taken up through Video Conference. The learned counsels for the parties are present.
The IRP prays for withdrawal of the Petition/termination of CIRP as the matter has been settled between the OC and the CD and CoC has not been constituted.CD re[ports that the it has paid Rs 30.00 lacs to the OC and Rs 2.00 lacs to the IRP for full and final settlement
It is observed that the Suspended Partners of the CD has preferred appeal before Hon’ble NCLAT against the order of Admission of the Application filed under Section 9 by this Bench However the IRP /Counsel of CD has promised to file an Affidavit for withdrawal of the appeal filed before Hon’ble NCLAT within three days .They pray for releasing the CD from rigour of CIRP. This has been confirmed by the Counsel of the OC present during the proceedings.
Prayer is allowed and the CD is free from rigour of CIRP from today in the interest of justice provided an affidavit to withdraw the Appeal filed by the suspended Partners of CD before the Hon’ble NCLAT, is filed before the Registry here within three days from today. CIRP is terminated and the RP is discharged from his duties as IRP.
Hence the IA is admitted and disposed of with the above observations and Directions.