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Judgment
ORDER
Vide order dated 29th November 2018, the CIR process was stayed in view of the settlement proposed by the Corporate Debtor. It is being confirmed by the IRP appointed in this case that though publication was effected, no other claim was received and no COC has been constituted. As the claim of the petitioner is fully satisfied, in view of the same, it is prayed that the CIR process be terminated. Keeping in view the decision of the Hon'ble Apex Court in the matter of 'Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.', W.P.(C) 99/2018, since a settlement has been effected before constitution of any COC, there is no legal impediment in terminating the CIR process. Accordingly, the CIR process stands terminated. The Corporate Debtor is released from the rigours of the moratorium and is permitted to function through its own Board. It is being confirmed by the IRP that all his dues have also been settled.
Petition stands disposed off. File be consigned to record room.