AI Structured Summary
Not yet generated for this judgment
Judgment
The parties are represented by their respective Counsels. The present IA no. 1521 of 2020 in CP(IB) no. 1724 of 2017 is moved by the Corporate Debtor informing that the present matter has been settled out of Court. Hence Petition needs to be disposed of accordingly.
While on the other side the Learned Counsel appearing for the Financial Creditor informed that the Petitioner has recovered certain amount of money by way of selling of the assets/security of the company property. In view of this the Financial Creditor is not pressing for the present IB Petition. Accordingly, the present IB Petition is dismissed as not pressed for. Consequently, the other pending IA/MA also becomes infructuous and stand disposed of. The interim order passed if any, therein stands vacated and merged with the present withdrawal order.