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Judgment
ORDER
I.A No.1667/2020 is an application filed by way of Form FA under Regulation 30 A of the CIRP regulations for withdrawing the main petition (IB)-2198(ND)2019 on the ground that the matter has been settled between the parties. In terms of the settlement agreement dated 29.02.2020, the Corporate Debtor handed over the demand draft of Rs. 7,50,000/- is handed over to the Operational Creditor.
At this stage, RP confirmed that the only claim received is from the Operational Creditor. There is the no Constitution of the CoC. In the circumstance the I.A. is allowed CIR Process is terminated and the Corporate Debtor is released from the rigors of moratorium and is permitted to functions through its own board. The remuneration and expenses are stated to have been paid to the IRP.
Petition stands disposed of. File be consigned to record room.