AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
These are two connected Company Appeals, Comp App (AT) (CH) (Ins) No.161/2024, M/s. MEIL-GAYATRI-ZVS-ITT (Consortium) Vs M/s. Guru Raghavendra Infrastructures & 2 Ors., was preferred by the Appellant, being aggrieved against the impugned order dated 03.04.2024, that was passed by the Learned NCLT, Hyderabad Bench in IA No.1584/2023, preferred in CP(IB) No.308/7/HDB/2022.
The connected Company Appeal being Comp App (AT) (CH) (Ins) No.162/2024 has been preferred by the Appellant, being aggrieved against the impugned order dated 03.04.2024, that was passed by the Learned NCLT, Hyderabad Bench in IA No.1741/2023, preferred in CP(IB) No.308/7/HDB/2022.
These Company Appeals were earlier heard at length, but before the Judgment could be dictated and pronounced, a mention made by the Learned Counsel for the Appellant informing that, owing to the fact that a settlement has already been arrived at between the parties, and the Learned Tribunal, based on the said settlement has passed an order of 10.09.2025, in IA No.1475/2025, being the IA preferred under Section 12A of the I & B Code, permitting withdrawal of CIRP Process in respect of M/s. MEIL-GAYATRI-ZVS-ITT, the Corporate Debtor.
He has also filed a memo to that effect before this Appellate Tribunal, wherein he has placed the aforesaid order dated 10.09.2025 along with the Memorandum of Settlement which has been arrived at between the parties. The respective counsels appearing on behalf of the parties to the instant Company Appeals have supported the settlement memo and have prayed that the two Company Appeals may be dismissed as withdrawn in the light of the order passed on 10.09.2025 in IA No.1475/2025, withdrawing the CIRP Process. The said Memorandum of Settlement, as placed by the Learned Counsel for the Parties under the joint signatures, is taken on record. The Company Appeal would stand dismissed as withdrawn, owing to the implications of the order dated 10.09.2025, that has been passed in IA No.1475/2025, by the Learned Tribunal withdrawing the CIRP Process under Section 12A of the I & B Code.