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Judgment
I.A No.244 of 2022
This Application has been filed by the Applicant/IRP under Section 12A of the I&B Code, 2016 read with Regulation 30A(1)(A) of the I&B Code (Corporate Insolvency Resolution Process) Regulation, 2016 seeking for withdrawal of the CP.
Mr. Jacob Alexander, learned Counsel appearing for the Petitioner and Mr. Balasubramanya Prasad learned IRP in person seeks leave of this Tribunal to withdraw the CP on the ground that both the parties agreed to settle the dues vide Settlement Agreement dated 30.06.2022 with a liberty to seek revival of the CP in the event of default of any of the terms and conditions mentioned in the Settlement Agreement by the Respondent/Corporate Debtor.
In the circumstances, the instant Application is allowed.
CP(IB)No.15/BB/2021
In view of the order passed in I.A No.244 of 2022, the instant CP is dismissed as withdrawn.