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Judgment
ORDER
Both sides Counsel are present.
Ld. RP has filed the Application under Section 12A of the IBC, 2016 read with Regulation 30A of the IBBI Regulations, 2016, for withdrawal of the main CP i.e., CP(IB)/24/GB/2025, as the account has been settled between the parties.
Ld. Counsel for the Applicant submitted that, in pursuance of the order passed by the Hon’ble NCLAT, this Application has been filed and the Respondent (Bholenath Traders Private Limited) has deposited the amount as per settlement agreement.
Considered. This IA(IBC)/85/GB/2026 has been filed by the Applicant, Mr. Sandeep Khaitan, RP, with the prayers as stated hereunder:
“Allow the present Application filed under Section 12A of the Insolvency and Bankruptcy Code, 2016, read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, seeking the withdrawal of the present CIRP.”
Ld. Counsel for the Applicant submitted that since the amount has been paid by the Corporate Debtor as per the settlement agreement therefore, the present IA may be allowed and permission be granted to withdraw CP(IB)/24/GB/2025.
Consider the contentions of the parties and perused the record.
Since the matter has been settled between the parties, nothing remains for adjudication.
Therefore, IA(IBC)/85/GB/2026 is hereby allowed and disposed off.
Accordingly, CP (IB) /24/GB/2025 stands dismissed as withdrawn.