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Judgment
Heard Mr. Paras Kuhad, Sr. Adv. appearing on behalf of the Petitioner/ Operational Creditor and Mr. M.S. Singhvi, Sr. Adv. for the Respondent/ Corporate Debtor. This Order was reserved on 11.10.2022. Additional written submissions have been filed vide Diary No. 3437/2022 dated 23.11.2022 by the Respondent/ Corporate Debtor before pronouncement of the Order.
Learned Senior Counsel appearing on behalf of the Respondent submits that on 14.11.2022, entire claim amount of Rs. 16,41,96,213.38/- Principal amount and applicable GST making a total amount of Rs. 18,68,55,290.82/- has been paid by the Respondent/ Corporate Debtor.
In view of the payment made, the present petition must be rejected under Section 9(5)(ii)(b) of IBC, 2016. Learned Senior Counsel appearing on behalf of the Petitioner/ Operational Creditor submits that the entire amount has not been paid by the Respondent/ Corporate Debtor. Interest amount is also to be paid by the Respondent/ Corporate Debtor. A total Amount of Rs. 10,59,37,689/- is yet to be deposited by the Corporate Debtor. In view of the recent development in the matter, both parties are permitted to settle the matter amicably within one week.