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Judgment
Heard the submissions made by the counsel for the parties. Application by the Member of the Suspended Board of Director of the corporate-debtor Mr. Rakesh Grover under Section 60 Sub-section (5) of IBC, 2016 read with Rule 11 of NCLT Rules, seeking the discharge of the corporate-debtor and disposal of CIRP proceedings in terms of agreed concerned terms under settlement agreement dated 04.01.2020 is taken on record. The counsel for the corporate-debtor is submitted that there was only one client who has been received after publication and the same is stated to be settled, and that claim pertains to operational-creditor.
Having heard to the above liberty is also granted to the parties to revive the petition at the settlement is not materialized. CIRP process has been dismissed.