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Judgment
ORDER
The petition for initiating the CIR process was admitted vide order dated 18.09.2019.
The present application CA-1359/19 has been filed by the IRP in Form FA praying for termination of the CIR process on grounds of a settlement with the Financial Creditor. The same is duly supported by the affidavit of Mr. Pramod Kumar, the Authorised Representative of the Financial Creditor. The Director of the Corporate Debtor Mr. Anurag Chaturvedi is also present in Court. The Corporate Debtor has reimbursed the IRP's expenses and professional fees. The IRP Mr. Vinay Singhal is present in Court and has submitted that no other claim had been received by him pursuant to the publication effected and therefore no CoC was constituted. In view of the same there is no legal impediment in terminating the CIR process as per directives of the Hon'ble Apex Court in the matter of Swiss Ribbon Pvt. Ltd. Vs. Union of India, WP(Civil) No. 99/2018. Accordingly, the CIR process stands terminated. The Corporate Debtor is released from the rigors of the moratorium and is permitted to function through its Board of Directors.
Copy of the order be given Dasti.