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Judgment
ORDER
This application has been filed under Section 12A of the Code, for withdrawal of the main Company Petition CP No.265/ALD/2019, filed by the Operational Creditor against the Corporate Debtor.
As per the order dated 1st September, 2023, the Corporate Debtor was admitted to CIRP and thereafter, the IRP who is present in person through VC states that he has invited claims by issuing requisite advertisements and there were no claims received by him. Meanwhile, a settlement was reached between the Operational Creditor and the Corporate Debtor as per the settlement agreement dated 11st September, 2023, a copy of which has also been attached as Annexure B at Page no. 14 - 17 of the present application. The IRP further states that till today, no claims have been received and therefore, the present application filed under Section 12A may kindly be allowed.
We have perused the averments made in the application as well as the oral submissions made by the Ld. Counsel representing the IRP as well as IRP in person. In view of the settlement dated 11th September, 2023, the present application deserves to be allowed particularly in the light of the fact that there are no claims received so far. The main petition therefore, is dismissed as withdrawn. Accordingly, IA No.453/2023 stands disposed off.
It is also to be noted that as per para 5 at page 5 of the settlement, the entire CIRP cost as well as the fees towards the IRP has also been paid and therefore, no amount remains outstanding due and/or payable in this regard to the IRP.