AI Structured Summary
Not yet generated for this judgment
Judgment
IA No. 1159/2022 and IA No. 961/2022
I.A. No. 1159/2022 has been filed on behalf of the IRP under Section 12A of IBC, 2016 for withdrawal of CP/IB/990/ND/2018. Learned Counsel for the IRP stated that the matter has been settled and CoC has not been constituted yet. Though one claim has been received from the State Bank of India i.e. of approximately Rs. 19 Crore, but it is also being stated that he does not know whether some petition has been filed before this Tribunal or not.
Operational Creditor was filed one I.A. No. 961/ND/2022 stating that matter has been settled. Taking into consideration that CoC has not been constituted and the IRP dues have already been cleared and the matter has been settled. The present application stands allowed. Financial Creditor is free to an avail remedy as per law. Under the circumstances, CIRP stands terminated. IRP stands discharged. The present application stands disposed of. The main matter I.B. No. 990/2018 is also disposed of.