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Judgment
CA No. 62/2019, C-IV is filed by the IRP under Section 12A for withdrawal of the application. It is stated by the learned Company Secretary that order of initiating CIRP against the Corporate Debtor was passed on 08.01.2019 and after publication, the 1st COC Meeting was held on 15.02.2019 comprising of only one member being the Operational Creditor in this application. In the said meeting held on 15.02.2019 at Item No. 11 an Agenda-to consider the other matter a proposal was placed in the Form of FA under Regulation 30A of IBBI Regulation and the same is annexed. It is submitted that no documents, records and persons from Ex-Management being traceable, the Operational Creditor is unable to proceed and he has to incur further expenses and cost. The Operational Creditor being the only member of COC and the said resolution it is approved by 100 per cent voting. In view of the above, it is appropriate to allow as prayed. Prayer ‘A’ is granted and the application 62/2019 is allowed thereby IB-744/ND/2018 is stands withdrawn and is disposed of in terms of the above order.