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Judgment
Company Appeal (AT) (Insolvency) No. 957 of 2022 has been filed against order dated 26.07.2022 by which the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Court-2 has rejected application under Section 9 filed by the Respondent as infructuous. Company Appeal (AT) (Insolvency) No. 967 of 2022 has been filed against order dated 26.07.2022 by which the Adjudicating Authority has admitted application under Section 7 filed by the Respondent.
In both the Appeals IAs has been filed being I.A. No. 3118 of 2022 in Company Appeal (AT) (Insolvency) No. 957 of 2022 and I.A. No. 3121 of 2022 in Company Appeal (AT) (Insolvency) No. 967 of 2022 bringing on record the settlement entered between the parties dated 27.08.2022.
Learned counsel appearing for the Financial Creditor submits that they have settled the matter and they may be permitted to withdraw the matter.
Both the I.As. are allowed. Settlement is taken on record. The Financial Creditor/Operational Creditor is permitted to withdraw their respective applications. The impugned order of the Adjudicating Authority commencing CIRP dated 26.07.2022 is set aside. Both the Appeals are disposed of accordingly.