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Judgment
The case record is put up upon mention by the IRP for the Respondent. She filed a memo enclosing the order dated 17.12.2019 passed by the Hon'ble NCLAT, New Delhi in Company Appal (AT) (Insolvency) 1333 of 2019 and prayed to pass necessary orders.
This Authority by an order dated 14.11.2019 initiated CIRP of the Respondent and appointed Smt. M. S. Mano Ranjani as IRP. The promoter of the respondent preferred appeal against the order before the Hon'ble NCLAT. During the hearing of the Appeal the parties reached a settlement and payments were made. In view of the settlement the Hon'ble NCLAT passed the following order.
“In view of such settlement and in exercise of inherent power conferred under Rule 11 of NCLAT Rules, 2016, we set-aside the impugned order dated 14th November, 2019 passed by the Adjudicating Authority and dispose of the application filed under section 9 by MTU Maintenance Berline-Brandenburg GmbH as withdrawn. The Company Petition – TCP (IB) No. 5/9/AMR/2019 [CP (IB) No. 629/HDB/2019] is closed. The Adjudicating Authority will pass order showing the said petition disposed of. LEPL Projects Limited (‘Corporate Debtor’) is released from the ‘Corporate Insolvency Resolution Process’. ‘Interim Resolution Professional’ will hand over the records and assets of the ‘Corporate Debtor’ to the Promoter immediately, who will manage the ‘Corporate Debtor’. The Appeal is allowed with the foresaid observations and directions”.
In view of the above order the TCP (IB) No. 5/9/AMR/2019 [CP (IB) No. 629/HDB/2019] is hereby dismissed as withdrawn and finally disposed of. The respondent is released from CIRP. The respondent is directed to reimburse the expenses incurred by the IRP and remit her remuneration as ordered by the Hon’ble NCLAT.