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Judgment
Per: Justice Sharad Kumar Sharma, Member (Judicial):
The challenge by the Appellant, in the instant Company Appeal, is to the impugned order of 03.04.2024, that was rendered by the Learned NCLT, Hyderabad in IA No. 1635/2023, as it was preferred in CP(IB)/308/7/HDB/2022, whereby his application preferred under Section 60(5) of I&B Code, to be read with Rule 11 of the NCLT Rules, has been rejected.
The relief as prayed for, by the Appellant before the Learned Adjudicating Authority, was that, an appropriate direction may be issued to the Resolution Professional, to take urgent steps as against the Respondent No. 2 / Employer Department, for release of the amount due and payable. The said application was rejected by the impugned order, observing thereof that, in view of the documentation on record, the outstanding payment pertain to the pre-CIRP period, that the amount claimed cannot be included in CIRP costs and that it has to be disbursed as per Section 53 of I&B Code.
After filing of the instant Company Appeal, the parties were directed to exchange their pleadings. When the matter was taken up today, the Counsel for the Appellant by submitting a memo, informed this Appellate Tribunal that, in view of the order, that has been passed on 10.09.2025 by the Learned NCLT, Hyderabad Bench, in IA(IBC)/1475/2025, which was preferred in CP(IB)/308/HDB/2022, the Corporate Insolvency process (CIRP) as initiated under Section 7 of I&B Code, has been permitted to be dismissed as withdrawn under Section 12A of the I&B Code, to be read with Regulation 30A of the CIRP Regulations and that, consequent to the said order of 10.09.2025, the Resolution Professional has been discharged with the liberty reserved to the Applicant to Section 7 of I&B Code application, to seek the restoration of the proceedings, in case there is a breach of settlement as contained under Section 12A of I&B Code.
The Appellant has submitted in the said memo filed by him that owing to aforesaid withdrawal of the proceedings commenced under Section 7 of I&B Code, the present Appeal has been rendered infructuous and the same may be accordingly dismissed as having been rendered infructuous, but subject to grant of liberty to him to revive the proceedings before the Adjudicating Authority, in case, the said the Company Petition gets revived due to the failure of the settlement arrived under Section 12A of I&B Code.
Because of the fact that, the right of revival of the proceedings has been reserved by the order of 10.09.2025, while passing the orders under Section 12A of I&B Code, permitting withdrawal of CIRP proceedings, the instant Company Appeal would stand dismissed as withdrawn subject to the liberty left open for the Appellant to revive the controversy as agitated in the IA No. 1635/2023, at an appropriate stage as and when it is required in furtherance of the liberty reserved by the order of 10.09.2025. Subject to the aforesaid exceptions, the Company Appeal would stand dismissed as withdrawn.