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Judgment
CA 749/2020 has been filed by the applicant through the IRP bringing to the notice of this Bench an order dated 22nd January 2020 of the Hon'ble NCALT in Co. Appeal (AT)1483/2019. As per the said order it has been directed that if the COC shall not be constituted as yet, if not constituted as yet in view of the settlement arrived at between the parties. The said application is duly supported by the affidavit of the RP along with the Form FA.
This Bench finds that steps have been taken in accordance with the provisions of Section 12(A) read with Regulation 30(A). Therefore, there is no legal impediment in granting the relief prayed for. Application stands allowed and 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.
Petition stands disposed off. File be consigned to record room.