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Judgment
An application bearing no. CA-927/C-V/ND/2020 has been filed by the IRP under Section 12A read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate persons) Regulation, 2016 along with rule 11 of the NCLT Rules praying therein to permit him to withdraw the application on the basis of Form-FA attached at Page 60 of the application.
We have heard the Ld. Counsel for IRP, Operational Creditor as well as Corporate Debtor. We have heard the Ld. IRP and perused the averments made in the application. Ld. IRP submitted that in this case no CoC has been constituted and matter has been settled between the parties and in pursuant of the public announcement no claim has been received. He further submitted that he has also enclosed the Form-FA along with the application in terms of settlement arrived between the parties. He has also received his cost and fee and there is no other dues pending against the Corporate Debtor therefore, he may be permitted to withdraw the present application.
Considering the averments made in the application we find, no CoC has been constituted and no claim has been received. Therefore, we hereby approve the application filed by the IRP and permit him to withdraw the present application. Since the IRP submitted before us that he has received the fee and cost and no other dues are pending therefore, we do not think it proper to give any direction regarding the payment of fee and cost. Accordingly, we hereby allow the IRP to withdraw the present petition bearing no. IB-1493/ND/2019. Accordingly, order dated 22.01.2020 is being set aside. Hence, CA-927/2020 stands dismissed as withdrawn.