AI Structured Summary
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Judgment
The Operational Creditor and the ex-directors of the Corporate Debtor have entered into a compromise, pursuant to which certain payments have also been made. Ld. Counsel for the IRP submits that in view of the compromise no steps were taken for convening the meeting of the CoC. Ld. Counsel for the Operational Creditor submits that in view of the settlement, he has instructions to withdraw the present petition. However, as a post-dated cheque of 15.04.2019 has been tendered, Ld. Counsel for the Operational Creditor submits he wishes to withdraw the present petition with liberty to revive the same in the event of the cheque being dishonoured.
Dismissed as withdrawn. Liberty granted.
The fees and expenses of the IRP shall be borne by the Corporate Debtor.
Disposed off accordingly.