AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
This application has been filed by Ms. Durga Das Agrawal, IRP of the CD under Regulation 30A (1) (a) of IBBI (IRP for Corporate Persons) Regulations, 2016, seeking withdrawal of the petition filed under Section 9 of IBC.
It is submitted by Ld. Counsel appearing for the Operational Creditor that, the CIRP was initiated vide order dated 03.01.2023 and Ms. Ms. Durga Das Agrawal was appointed as IRP. However, the CoC has not been constituted. Since the parties have entered into a settlement, the present application seeking withdrawal of the petition has been filed.
In view of the submissions made by Ld. Counsel, the Petitioner is permitted to withdraw the present petition, i.e., IB-533(ND)/2020, which is dismissed as withdrawn. In view of the dismissal of the present petition the IRP Ms. Durga Das Agrawal shall be discharged from performing her duties as IRP and shall handover the management and affairs of the CD back to the erstwhile management/Directors of CD within three days.
Therefore, the IA-243/2023 is disposed of.