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Tribunals and CommissionsDivision Bench(2019) 10 NCLT CK 0728

Neo Carbons Pvt. Ltd. vs Shankar Ferro Alloys Pvt. Ltd.

National Company Law Tribunal, Kolkata Bench · Decided on 24 October 2019

HON’BLE JUDGES
M.B. Gosavi, Member (J) · Virendra Kumar Gupta, Member (T)
RESULT
Disposed Of
CASE NUMBER
CP(IB)No.704/KB/2019

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Judgment

1 paragraphs · 106 words

Ld. Counsel for the operational creditor appears. Ld. Counsel for the corporate debtor appears. CA(IB) 1389/KB/2019 is filed by the Ld. Counsel for the operational creditor under section 12A of IBC stating that both the parties settled the matter. We heard both the Counsels. CoC is not formed. Hence, though corporate debtor is admitted in CIRP, we allow operational creditor to withdraw the matter invoking our power under rule 11 of NCLT Rules. This matter is settled. We heard the Ld. RP also. He submits that his fees and costs has been paid. In view of this, CP(IB) 704/KB/2019 alongwith the CA(IB) 1389/KB/2019 stand disposed off.