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Judgment
IA No. 1892/2023
The present application has been filed under Section 12A of the Code on the basis of Settlement Agreement dated 05.08.2023 between financial creditor and respondent-corporate debtor. Financial creditor is sole member of COC. Resolution to that effect has also been placed on record in COC meeting held on 05.08.2023 vide Agenda Item No. (C) ‘Additional Matters’. Form FA is annexed with the application. Keeping in view the Agreement between the parties and approval of COC for withdrawal of the CIRP, the present application is allowed and CIRP process already initiated against the CD is withdrawn and consequences will follow. As a consequence moratorium declared under Section 14 of the Code comes to an end and the corporate debtor is discharged from the claims in lieu of the said petition and is free from the rigours of the Code and Regulations made thereunder. Henceforth, the RP is discharged and the Board of Directors is restored to its original position. Thus, IA No. 1892/2023 is disposed of accordingly.