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Judgment
This application has been filed by the IRP in terms of Section 12A of IB Code, seeking for withdrawal of CIRP proceedings initiated against the Corporate Debtor pursuant to the order of this Tribunal dated 30.10.2023, on the ground that post admission of the Corporate Debtor into CIRP, the parties have settled the matter where under the agreed amount has been paid by the Corporate Debtor to the Financial Creditor. It is also stated that CoC was not constituted. Form-H has also been filed. Perused the record of the photo copy of the settlement dated 10.11.2023 between the parties that has been filed. In the light of the above, we allow the application and order dated 30.10.2023 directing the initiation of CIRP against the Corporate Debtor is hereby re-called and the moratorium ordered against the Corporate Debtor stands vacated. Corporate Debtor is at liberty to function independently as per law. With these directions, IA (IBC) 1885/2023 is allowed and disposed of.